AbitibiBowater to sell its Snowflake mill to Catalyst

摘要

Catalyst Paper Corporation is the future owner of the Snowflake newsprint mill in Arizona, formerly owned by Abitibi-Con-solidated. Catalyst Paper and AbitibiBowater have announced that they have signed a preliminary contract for Catalyst Paper's acquisition of the mill. The purchase price is put at $161 m. The sale of the Snowflake mill, which has a production capacity of 375,000 t of newsprint, was a condition set by the US Ministry of Justice when Abitibi and Bowater merged to form AbitibiBowater. AbitibiBowater and Catalyst Paper are expecting the transaction to be completed in the second quarter of 2008. After the sale of the Snowflake mill, AbitibiBowater will be operating 28 pulp and paper mills and 35 plants for wood products in the USA, Canada, Great Britain and South Korea.