Ebene News – CA – Domtar shares rise after acknowledging discussions with Paper Excellence – BNN Bloomberg

20h ago

An employee lowers large rolls of paper onto a rewinding machine at the Domtar Paper Co stationery in Rothschild, Wisconsin, October 10, 2012
, Bloomberg / Daniel Acker

FORT MILL, SC – Domtar Inc shares peaked nearly two years after the pulp and paper producer admitted it was in talks with BC’s Paper Excellence over a possible merger or sale of the company

Shares of the South Carolina and Montreal-based company climbed $ 827 or 166 percent to $ 5797 at noon on the Toronto Stock Exchange

Richmond, BC-based Paper Excellence is a privately held company with $ 2.4 billion in annual sales from the production of over 28 million tonnes of paper at seven manufacturing plants in Canada It has 2,800 employees

Domtar is one of the largest manufacturers of uncoated paper or copier in North America and one of the largest manufacturers of pulp in the world It has approximately 6,600 employees in 50 countries and a total of annual business of about US $ 3 billion

It has 13 pulp and paper mills and 10 converting plants with an annual capacity to produce approximately 27 million tonnes of paper and 15 million tonnes of air-dried market pulp

The company sold its personal care business in March to subsidiaries of American Industrial Partners for US $ 920 million

Founded in 1848 in England to manufacture railway ties and wharf piles, it operated a coal tar distillation plant in Nova Scotia in 1903, went public in 1929 and changed its name to Domtar in 1965

Domtar, Paper, Bloomberg

Ebene News – CA – Domtar shares rise after acknowledging discussions with Paper Excellence – BNN Bloomberg

Source: https://www.bnnbloomberg.ca/paper-excellence-explores-deal-to-take-domtar-private-1.1598712