Japan’s Hokuetsu Kishu Paper is planning to acquire Canadian pulp producer Alberta-Pacfic Forest Industries Inc. as early as this spring, purchasing all of Alpac’s shares from its current owners, Mitsubishi Corp. and Oji Holdings, according to a story on the web site of Nikkei Asian Review.
This will be the first step into North America for Hokuetsu Kishu Paper, Japan’s fifth largest papermaker. Nikkei Asian Review notes that for Hokuetsu Kishu, domestic demand continues to shrink.
The value of the entire deal is expected to top 6 billion yen ($50 million).
Alpac operates Canada’s newest and North America’s largest, single-line bleached kraft pulp mill. It produces nearly 650,000 air dried metric tonnes of elemental-chlorine free pulp annually.
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