Resolute Forest Products Inc. announced the closing of a transaction to acquire the 49% equity interest held by The New York Times Company in Donohue Malbaie Inc. for a cash purchase price in the amount of C$20 million ($15.7 million). Resolute already owned 51% of the shares of Donohue Malbaie.
Donohue Malbaie owns and operates a paper machine with an annual production capacity of 224,000 metric tons of newsprint in Clermont, Quebec, Canada. The Clermont operation, which employs 153 workers, also houses all the equipment that produces the thermomechanical pulp supplying the machine. With this transaction, Resolute becomes sole owner of the Clermont operation.
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers.
