Resolute Forest Products Inc., a subsidiary of Domtar Corporation and a part of the Paper Excellence Group, has announced that, on August 1, 2023, it completed the previously disclosed sale of the Thunder Bay (Ontario, Canada) pulp and paper mill to an affiliate of Atlas Holdings, pursuant to the terms of the asset purchase agreement dated May 26, 2023.
Resolute will continue to operate its sawmills and woodlands operations in Northwestern Ontario. With the closing of the transaction, the parties have entered into certain ancillary agreements, including a long-term woodchip and biomass supply agreement pursuant to which Resolute will continue to provide chips and biomass to the Thunder Bay mill.
The sale of the Thunder Bay pulp and paper mill was a requirement under the consent agreement entered into between Domtar Corporation and the Canadian Commissioner of Competition and registered with the Canadian Competition Tribunal in connection with its review of Domtar Corporation’s recent acquisition of Resolute.
