US Paper Excellence ends acquisition of non-woven fabric company Domtar

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The Paper Excellence Group, a US-based manufacturer of pulp and specialty paper, printing, writing and wrapping paper, has completed the acquisition of Domtar, a leading provider of textile-based products. Domtar operates as an independent entity within the Paper Excellence Group, leaving Domtar’s current CEO and management team.

With this acquisition, Paper Excellence has been further established as an industry leader, with significant increases in pulp and paper production, as well as significant global reach and expanded product range to air-laid non-wovens and corrugated board. bottom. According to the Paper Excellence press release, there are no further changes to the office, business plan, or Domtar employee base at this time.

Under the terms of the agreement, Domtar shareholders received $ 55.50 per share of Domtar’s common stock. Domtar’s common stock will no longer be listed on the New York Stock Exchange or the Toronto Stock Exchange. Barclays was the exclusive financial adviser to Paper Excellence, and Latham & Watkins, McMillan LLP, Miller Titerle, and Mehigan were the legal advisers to Paper Excellence. Morgan Stanley was the exclusive financial adviser to Domtar and Debeboise & Primpton, and Osler, Hoskin & Harcourt was the legal adviser to Domtar.

The Paper Excellence Group, a US-based manufacturer of pulp and specialty paper, printing, writing and wrapping paper, has completed the acquisition of Domtar, a leading provider of textile-based products. Domtar operates as an independent entity within the Paper Excellence Group, leaving Domtar’s current CEO and management team.

“Today is a major milestone in PaperExcellence’s growth. We are pleased to welcome Domtar and his impressive team to the PaperExcellence family. Under the talented management of John Williams and Domtar, we are Domtar. Look forward to continued success across the US and Canadian manufacturing networks. ” Joe Ragan, Global Chief Financial Officer of Paper Excellence Said in a statement.

“As part of Paper Excellence, Domtar’s future is bright. We continue to acquire the right to be the supplier of choice for our customers in sustainable paper, pulp and packaging products.” John Williams, President and Chief Executive Officer of Domtar Said.

Fiber2Fashion News Desk (GK)

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US Paper Excellence ends acquisition of non-woven fabric company Domtar

Source link US Paper Excellence ends acquisition of non-woven fabric company Domtar

The post US Paper Excellence ends acquisition of non-woven fabric company Domtar appeared first on Eminetra.

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