Domtar (formerly Paper Excellence) has signed a purchase agreement with Cranberry Business Park Ltd. for the sale of the remaining half of its lands at the former tiskwat Paper Mill site in Powell River, British Columbia.
“It was a priority for Domtar to find a buyer who would ensure that the lands continue to generate jobs and economic benefit for the broader community well into the future,” said Carlo Dal Monte, vice president, Legacy Assets. “In March we returned a substantial portion of the tiskwat site to Tla’amin Nation. We are proud that the agreements that we’ve reached offer such a bright future for the region.”
Earlier this year, together with Tla’amin Nation, Domtar announced that it was returning a substantial portion of the tiskwat lands to the Nation.
Closing is expected to take place later in the year, subject to the completion of standard regulatory approvals.
Domtar is a leading, privately held manufacturer of diversified forest products, with a workforce of about 14,000 employees in more than 60 locations across North America.
