Kamloops Domtar mill to be sold in merger | iNFOnews | Thompson-Okanagan's News Source

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Kamloops News

Kamloops Domtar mill to be sold in merger

FILE PHOTO - The Domtar mill in Kamloops is seen in this undated file photo.

A merger between Domtar and Paper Excellence has been approved by the Canadian Competition Bureau.

Paper Excellence affiliate Karta Halten B.V. will buy out issued and outstanding Domtar stocks at $55.50 USD per share, but the Kamloops pulp mill will need to be sold, according to a Domtar press release.

The Canadian Commissioner of Competition was concerned about wood fibre sales in the Thompson-Okanagan should the pulp mill remain under ownership of the merged company.

The sale has not been completed, but it's expected to close within the fourth quarter of 2021.

Paper Excellence has eight locations in Canada, with six in B.C.

Domtar's Kamloops location is the only one of its 12 mills in the province.

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News from © iNFOnews, 2021

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