Resolute Forest Products to sell Fairmont recycled pulp mill to Nine Dragons Paper

摘要

Resolute Forest Products has entered into a definitive agreement with ND Paper LLC, a subsidiary of China's packaging paper and board manufacturer Nine Dragons Paper, for the sale of its Fairmont deinked pulp mill. Resolute and ND Paper put the purchase price at $55m plus certain elements of working capital, payable in cash. The companies expect the transaction to be completed within the next two months. "Proceeds from this asset sale will enable us to further increase liquidity, and continue to improve our balance sheet and financial flexibility," said Yves Laflamme, president and CEO of Resolute. "Over the coming days, we will communicate with our customers to discuss the transition of supply as we seek to optimize our recycled bleached kraft pulp business at our Menominee, Michigan facility," Laflamme added.