July 9, 2018 – Catalyst Paper has completed the sale of the company’s U.S. operations to ND Paper, a wholly-owned subsidiary of Nine Dragons Paper for U.S. $175 million. Nine Dragons Paper is based in Hong Kong.
The transaction includes Catalyst’s Rumford, Maine and Biron, Wisconsin mills along with the company’s U.S. operations center in Dayton, Ohio.
“We’re pleased to have completed the sale of our U.S. operations to ND Paper,” Ned Dwyer, Catalyst president and CEO, said. “The net proceeds of the sale will be used to re-pay a significant share of our debt.”
Catalyst’s B.C. operations, including the company’s pulp and paper mills in Crofton, Port Alberni and Powell River, its Surrey distribution centre and Seattle sales office, are unaffected by the transaction.
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