Domtar: Sale will benefit employees and mill communities
(WSAW) - Paper Excellence is expected to finalize its purchase of Domtar by this summer.
South Carolina-based Domtar operates a dozen mills in the U.S. including two locally in Nekoosa and Rothschild. There are 350 employees at the Rothschild mill and 390 at the Nekoosa mill.
In an email to NewsChannel 7, Domtar spokeswoman Tammy Waters said the agreement brings stability and a long-term commitment to realizing a plan for growth, which benefits our employees and the communities where the mills are located.
“Domtar will run as a stand-alone business for the foreseeable future. The same forests, the same mills, and the same people will continue to produce and deliver the same quality and quantity of paper and pulp that our customers require,” Waters said. “Our culture of collaboration and community engagement, years in the making, is deeply rooted and lasting. That will not change. In addition, our supply chain, our manufacturing assets, and our core values of Agility, Caring and Innovation do not change”.
Joe Ragan, Global Chief Financial Officer of Canadian-based Paper Excellence, said, “We are excited to add Domtar and its employees to the Paper Excellence global family. This marks a major step in our global strategy of identifying well-positioned assets and positioning them for growth. Domtar is a natural fit for our culture of operational excellence. We are enthusiastic about entering the American market as we continually improve Paper Excellence’s ability to serve its expanding blue-chip customer base.”
The sale is estimated to cost $3 billion.
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