Skeena to be bought by China Paper
June 9, 2005 By Pulp & Paper Canada
The Globe and Mail recently reported that there may yet be hope for the Skeena Cellulose Inc. pulp mill in Prince R…
The Globe and Mail recently reported that there may yet be hope for the Skeena Cellulose Inc. pulp mill in Prince Rupert, BC. However, the prospective aid won’t be coming from the hands of a North American company, but from those of Sun Wave Forest Products Ltd., a division of China Paper Group. The Globe confirmed that an agency of the Chinese government was given the go ahead by the BC Supreme Court to acquire the mill from a receiver, thereby paving the country’s way into Canada’s resource sector.
The publication indicated that although the transaction is subject to various conditions, it is expected that Sun Wave will fork out roughly $100 million to restart the facility and is planning to use 80% of the 350,000 tonnes-per-year mill’s output to feed its paper operations in China.
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