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GLV shareholders approve sale of pulp and paper division

Shareholders of GLV adopted a resolution approving the sale of GLV’s Pulp & Paper Division to 9027173 Canada Inc., a corporation owned by Richard Verreault, the president and chief executive officer of GLV and Laurent Verreault, the…

Shareholders of GLV adopted a resolution approving the sale of GLV’s Pulp & Paper Division to 9027173 Canada Inc., a corporation owned by Richard Verreault, the president and chief executive officer of GLV and Laurent Verreault, the executive chairman of the board of GLV, members of the founding family of GL&V.

A resolution approving the company’s name change from GLV Inc. to Ovivo Inc. was adopted as well.

GLV will now be entirely focused on its core water treatment business.

The sale of the pulp and paper division is expected to close around November 28, 2014.

GLV Group was founded in 1975 by Louis Laperrière and Laurent Verreault. Then called GL&V, it was a service and equipment provider for major manufacturers in the pulp and paper industry. Through strategic acquisitions over the years, the company expanded and added to its innovative technological solutions for separating liquids from solids.

Currently, GL&V Pulp and Paper Group designs and markets equipment used in various stages of pulp and paper production, from pulp preparation to sheet forming and finishing. GL&V serves the global market with spare parts, rebuilds, upgrades and optimization services for new and existing equipment.