March 8, 2023 By P&PC Staff
Domtar, now a part of the Paper Excellence Group, and First Quality Enterprises have entered into an agreement for the sale of Domtar’s Dryden pulp mill to First Quality. The Dryden transaction, expected to close early in the third quarter, is subject to customary closing conditions. This includes receipt of required regulatory approvals. The closing of the Resolute Forest Products transaction, which happened recently, was also another condition for this transaction.
First Quality has made clear to Domtar its commitment to the Dryden Mill, its employees and the surrounding community and that First Quality fully intends to continue business operations consistent with past practices.
The sale of the Dryden Mill is a requirement under the consent agreement between Domtar and the Canadian Competition Bureau in connection with its review of Domtar’s recent acquisition of Resolute. The sale is subject to regulatory conditions, including approval by the Commissioner of Competition and clearance under the Hart-Scott-Rodino Act.
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