MONTREAL, QC — Tembec Inc. and Kruger Inc. have formed a joint-venture to buy all the shares of Fort James Marathon Ltd. from Deerfield, IL-based Fort James Corporation for $100 million. In the deal,…
MONTREAL, QC — Tembec Inc. and Kruger Inc. have formed a joint-venture to buy all the shares of Fort James Marathon Ltd. from Deerfield, IL-based Fort James Corporation for $100 million. In the deal, the joint-venture acquires a 180 000-t/y northern bleached softwood kraft pulp mill in Marathon, ON. “This acquisition represesents a good strategic fit with Tembec’s core market pulp business,” said Terence Kavanagh, president, Tembec Pulp Group. The joint-venture has signed a three-year renewable pulp supply agreement, largely to provide pulp to Fort James’ non-integrated European tissue operations. About 300 people work at the mill. The transaction is expected to close in the first quarter of 2000, and must gain the usual regulatory approvals.
Print this page
