The Canadian Competition Bureau issued a no-action letter in respect of Paper Excellence Canada Holdings Corporation’s agreement to acquire Catalyst Paper, as the company said in the press release received by Lesprom Network.
The transaction involves the purchase of all of the shares of Catalyst. Catalyst owns manufacturing facilities in Crofton, Port Alberni and Powell River, a distribution centre in Surrey and headquarters in Richmond, British Columbia, Canada.
“This acquisition demonstrates Paper Excellence’s continuing deep commitment to the province of British Columbia,” states Brian Baarda, Paper Excellence’s CEO. “Once finalized, this acquisition confirms Paper Excellence’s position as a key player within Canada’s forest industry and will benefit all of the stakeholders involved, including our employees, suppliers, customers, the communities where we operate, as well as the pulp and forest products industries.”
Paper Excellence is a British Columbia-headquartered company with close to two million tonnes of pulp production capacity through five operating mills in Canada and two mills in France.