Weyerhaeuser Co., Federal Way, WA, has tendered a US$7.1-billion cash-and-debt acquisition offer for Willamette Industries Inc. of Portland, OR. The company’s offer, US$48 for each share of Willamet…
Weyerhaeuser Co., Federal Way, WA, has tendered a US$7.1-billion cash-and-debt acquisition offer for Willamette Industries Inc. of Portland, OR. The company’s offer, US$48 for each share of Willamette, expired on January 4.
Cascades Group’s previously announced restructuring plan has been approved by shareholders of Paperboard Industries International Inc., Perkins Papers Ltd. and Rolland Inc. In the restructuring, all of the common shares held by the minority shareholders of Paperboard, Perkins and Rolland will be exchanged for new common shares of Cascades Inc., Kingsey Falls, QC. Upon completion of the restructuring, Cascades will become the owner of all of the common shares of Paperboard, Perkins and Rolland. The operation will entail a dilution of the majority shareholder of Cascades, the Lemaire family, from 46% to about 38%. The transaction was expected to take effect January 1.
Alliance Forest Products Inc. plans to temporarily close four sawmills in Quebec — Dgelis, Lac-des-Aigles, Baie-Trinit and Girardville — which will remove almost 145 million board feet of capacity. And Abitibi-Consolidated will temporarily close its Eastern Canadian sawmills and planing mills, removing 110 million board feet, for three weeks until mid-January. Both Montreal-based companies cited “difficult market conditions and the increased export costs attributable to the Canada-US Softwood Lumber Agreement.”
Groupe Laperrire & Verreault, Trois-Rivires, QC, is taking full ownership of its GL&V Manufacturing Inc. unit, which makes machines for the paper industry. The company said it would be buying back the 35% part owned by a Quebec union-sponsored investment fund. Financial details were not revealed.
The European and American paper industries are close to developing a single, unified, international, XML-based e-business standard, PapiNet. The first stage of the project will test five documents as of January 2001: purchase order, order confirmation, delivery schedule, delivery message and invoicing.
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