AbitibiBowater Completes Sale of Snowflake, AZ Mill
April 10, 2008 - AbitibiBowater today announced that it has completed the sale of its Snowflake, Arizona, assets for a purchase price of $161 million to a subsidiary of Catalyst Paper Corporation.
The mill has an annual production capacity of approximately 375,000 tonnes of newsprint.
The sale was approved by the U.S. Department of Justice in order to comply with the requirements set for approval of the Abitibi-Consolidated/Bowater combination. AbitibiBowater plans to use the proceeds from this sale for general corporate purposes.