Displaying items by tag: domtar

NewPage Corporation (NewPage) today announced that it has reached an agreement with Domtar Corporation to purchase Domtar's coated groundwood paper product lines and book of business. The purchase follows Domtar's decision to exit this business and close its Columbus , Mississippi , paper mill.

The purchase will include the coated groundwood paper book of business, the Choctaw ® , Saturn ® and Jupiter ™ brands, and the coated groundwood product inventory remaining after the Columbus mill closes. The transaction is expected to be completed in April.

"With Domtar's decision to permanently close its Columbus mill and exit the coated groundwood product sector, we will be working closely with Domtar to ensure that the immediate needs of their customers are met without any disruption of service," stated Tom Curley, president and chief executive officer for NewPage. "Going forward, we look forward to the opportunity to transition these customers to NewPage product and service offerings that meet their future business needs. We recognize that customers have a choice in paper suppliers, and we want to earn their business by ensuring they have a seamless transition to NewPage, should they desire to do so."

To read the offical Release go here....>

Published in North American News

Domtar Corporation (NYSE/TSX: UFS) announced today that it will permanently close its coated groundwood paper mill in Columbus, Mississippi. The Domtar coated groundwood paper mill has an annual production capacity of 238,000 tons of coated groundwood and 70,000 metric tons of thermo-mechanical pulp. The mill currently has 219 employees. Operations are expected to cease by the end of April 2010.

"Market conditions for coated groundwood paper are challenging and despite the best efforts of our employees - and these efforts have been commendable - the mill continues to suffer from a weak cost position," said John D. Williams, President and Chief Executive Officer of Domtar. "With this permanent closure, Domtar is exiting the coated groundwood paper business."

Domtar also announced the sale of its Choctaw(R), Saturn(R) and Jupiter(TM) coated groundwood product lines and trademarks to NewPage Corporation. The sale to NewPage also includes the mill's paper inventory and book of business. Domtar intends to dismantle and dispose of remaining assets as deemed appropriate.

Domtar will take measures to assist employees affected by these decisions in accordance with its policies.

Published in North American News

Domtar Corporation (NYSE/TSX: UFS) announced today that Mr. Daniel Buron, Senior Vice-President and Chief Financial Officer, will be presenting at the Goldman Sachs Montreal Paper and Forest Products Investor Event in Montreal, Quebec, Canada on Wednesday, March 17, 2010 at 11:00 a.m. (ET). Financial analysts, media and other interested individuals are invited to listen to the live webcast on the Domtar corporate website at www.domtar.com

Published in North American News
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