Domtar merges with Weyerhaeuser
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Domtar has signed a definitive agreement to combine with Weyerhaeuser’s (NYSE: WY) fine paper business and related assets. The new company, to be called Domtar, will have its Head Office in Montréal, Quebec, while the Headquarters of Operations will be in Fort Mill, South Carolina. The transaction has been approved by the Boards of Directors of both companies.
“With this transaction, we are transforming Domtar into one of the world’s leading paper companies, presenting shareholders with new opportunities and creating a stronger company for employees and customers,” said Raymond Royer, Domtar’s President and Chief Executive Officer, who will lead the new company in the same capacity.
[Click here to read the Domtar press release]
[Click here to read the Weyerhaeuser press release]
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Tembec receives FSC certification.
Tembec announced that it has received FSC Certification for nearly 2.5 million acres related to two Forest Management Units (FMU) in the Temiscamingue region of Quebec. FMU’s 081-21 and 081-22 were certified in accordance with the rigorous standards of the Forest Stewardship Council (FSC) for Canadian boreal and mixed wood forests.
This brings the total area under FSC certification to 18.3 million acres of Canadian forest, which is equal to 71% of the forestland, managed by Tembec. This level of certification is unparalleled in Canada, and makes Tembec the top company in the country and a world leader in FSC certification. [Click here to read the entire press release]
