Paper Excellence Welcomes Domtar Into Its Group of Companies
30 Novembre 2021 - 3:01PM
Business Wire
The Paper Excellence Group, a global diversified manufacturer of
pulp and specialty, printing, writing, and packaging papers, today
announced the successful closing of its previously-announced
acquisition of Domtar (NYSE: UFS) (TSX: UFS), a leading provider of
fiber-based products. The acquisition further establishes Paper
Excellence Group as an industry leader, significantly broadening
its global reach and expanding its product range to include airlaid
nonwovens and containerboard, in addition to significantly
increased pulp and paper production.
Domtar will operate as a stand-alone business entity within the
Paper Excellence Group, with Domtar’s current CEO and management
team remaining in place. There are no further changes to operating
locations, business plans, or Domtar’s employee base at this
time.
“Today marks a major milestone in the growth of the Paper
Excellence Group,” said Joe Ragan, Global Chief Financial Officer
of Paper Excellence. “We are excited to welcome Domtar and its
impressive team to the Paper Excellence family. Under John Williams
and Domtar’s capable management, we look forward to Domtar’s
continued success across its manufacturing network in the US and
Canada.”
“As part of the Paper Excellence Group, the future is bright for
Domtar,” said John Williams, President and CEO of Domtar. “We will
continue to earn the right to be the supplier of choice to our
customers with sustainable paper, pulp and packaging products.”
Under terms of the agreement, Domtar stockholders received
USD$55.50 for each share of Domtar common stock. Domtar common
stock will no longer be listed for trading on the New York Stock
Exchange or the Toronto Stock Exchange.
Advisors
Barclays served as exclusive financial advisor to Paper
Excellence and Latham & Watkins LLP, McMillan LLP, Miller
Titerle + Co., and Mehigan LLP, served as legal advisors to the
Paper Excellence Group.
Morgan Stanley & Co. LLC, served as exclusive financial
advisor to Domtar and Debevoise & Plimpton LLP, and Osler,
Hoskin & Harcourt LLP, served as legal advisors to Domtar.
About Paper Excellence Group
The Paper Excellence Group, headquartered in Southern
California, is a privately-held diversified manufacturer of pulp
and specialty, printing and writing, and packaging papers,
producing over 7 million tons annually with a workforce of over
10,000 in its nearly 40 locations across the Americas and Europe.
Through its individual business units, the Group leverages its
operational excellence and sustainable high-quality, cost-effective
products to deliver high quality pulp and paper to its customers
around the world. For more information on Paper Excellence, please
visit www.paperexcellence.com. To learn more about Domtar, visit
www.domtar.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20211130005720/en/
Paper Excellence Media Ross Lovern / Hallie Wolff Kekst
Tel.: 917-842-7205 / 917-842-1127 Domtar Investors &
Media David Struhs Vice-President Corporate Services &
Sustainability Tel.: 803-802-8031
Domtar (NYSE:UFS)
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