Mar 09, 2007. /Lesprom Network/. Weyerhaeuser Company announced on March 7 the closing of its transaction to combine its fine paper business and related assets with Domtar Inc. The transaction creates a new company called Domtar Corporation. Domtar Corporation is the largest manufacturer and marketer of uncoated freesheet paper and a leading manufacturer of market pulp in North America. The company's head office is located in Montreal, Quebec and its operations center is in Fort Mill, South Carolina. Under the terms of the transaction, Weyerhaeuser received $1.35 billion in cash and distributed ownership of its fine paper business and related assets to Weyerhaeuser shareholders in the exchange offer. "The completion of this transaction generates significant value for Weyerhaeuser shareholders," said Steven R. Rogel, chairman, president and chief executive officer. "Our focus is to continue to execute strategies that will drive additional value for our shareholders." Domtar Corporation common stock has been approved for listing on the New York Stock Exchange and the Toronto Stock Exchange. It is anticipated that trading on such exchanges on a when-distributed basis will begin on March 7. Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2006, sales were $21.9 billion. It has offices or operations in 18 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities.