Paper Excellence completes the acquisition of Domtar – Magazine for the nonwoven industry
Domtar will operate as a stand-alone business entity within the Paper Excellence Group, with Domtar’s current CEO and management remaining in place. There are no other changes to Domtar’s operating locations, business plans or employee base at this time.
âToday marks an important milestone in the growth of the Paper Excellence Group,â said Joe Ragan, Global Chief Financial Officer of Paper Excellence. âWe are delighted to welcome Domtar and its impressive team to the Paper Excellence family. Under the able leadership of John Williams and Domtar, we look forward to Domtar’s continued success across its manufacturing network in the United States and Canada.
âAs a member of the Paper Excellence Group, the future is bright for Domtar,â said John Williams, President and CEO of Domtar. âWe will continue to earn the right to be our customers’ supplier of choice with sustainable paper, pulp and packaging products. “
Under the agreement, Domtar shareholders received US $ 55.50 for each Domtar common share. Domtar’s common shares will no longer be listed on the New York Stock Exchange or the Toronto Stock Exchange.