AbitibiBowater sells four closed mills

摘要

AbitibiBowater has completed the sale of three idle paper ?mills located in eastern Canada to a wholly owned affiliate of American Iron & Metal Company Inc. for $8.7 million and the sale of a paper mill and other assets located in British Columbia to an affiliate of Conifex Inc. for $33.9 million. The three paper mills sold to American Iron & Metal, together with certain related assets and the property on which these paper mills are situated, are located in Beaupre, Que., Donnacona, Que., and Dalhousie, N.B. As part of the sale, AIM has also agreed to acquire a fourth idle paper mill (Fort William), located in Thunder Bay, Ont. In addition, AbitibiBowater will be paid 40% of the net proceeds from any subsequent sale of paper machines from these mills.