Dec. 1, 2021 - The Paper Excellence Group on Nov. 30 announced the successful closing of its previously-announced acquisition of Domtar. The acquisition further establishes Paper Excellence Group as an industry leader, significantly broadening its global reach and expanding its product range to include airlaid nonwovens and containerboard, in addition to significantly increased pulp and paper production.
Under terms of the agreement, Domtar stockholders received USD$55.50 for each share of Domtar common stock. Domtar common stock will no longer be listed for trading on the New York Stock Exchange or the Toronto Stock Exchange. The all-cash transaction represents an enterprise value of approximately $3.0 billion.
Domtar will operate as a stand-alone business entity within the Paper Excellence Group, with Domtar's current CEO and management team remaining in place. There are no further changes to operating locations, business plans, or Domtar's employee base at this time.
"Today marks a major milestone in the growth of the Paper Excellence Group," said Joe Ragan, Global Chief Financial Officer of Paper Excellence. "We are excited to welcome Domtar and its impressive team to the Paper Excellence family. Under John Williams and Domtar's capable management, we look forward to Domtar's continued success across its manufacturing network in the US and Canada."
John Williams, President and CEO of Domtar, said, "As part of the Paper Excellence Group, the future is bright for Domtar. We will continue to earn the right to be the supplier of choice to our customers with sustainable paper, pulp and packaging products."
Domtar is a leading provider of a wide variety of fiber-based products including communication, specialty and packaging papers, market pulp and airlaid nonwovens. With approximately 6,400 employees serving more than 50 countries around the world, Domtar is driven by a commitment to turn sustainable wood fiber into useful products that people rely on every day. Domtar's annual sales are approximately $3.7 billion. Domtar's principal executive office is in Fort Mill, South Carolina. To learn more, visit www.domtar.com
The Paper Excellence Group, headquartered in Southern California, is a privately-held diversified manufacturer of pulp and specialty, printing and writing, and packaging papers, producing over 7 million tons annually with a workforce of over 10,000 in its nearly 40 locations across the Americas and Europe. To learn more, visit: www.paperexcellence.com.
SOURCE: Paper Excellence Group
Paper Industry Newsletter
Stay on top of paper industry news
from around the world with
PaperAge's free weekly newsletter.
Delivered every Thursday.
Sign up today!