First Quality and Paper Excellence Group subsidiary Domtar Corporation have entered into an agreement for First Quality to acquire Domtar’s Dryden, Canada-based pulp mill.
The mill produces high quality Northern Bleached Softwood Kraft (NBSK) pulp for customers in North America.
The transaction is expected to close in the third quarter of 2023 and is subject to closing conditions, including receipt of required regulatory approvals.
Jim Dodge, Chief Financial Officer of First Quality, said: “First Quality saw this as an excellent strategic investment given the knowledgeable leadership team, premium quality NBSK coming from the mill, and the access and availability to high quality fibre supplies long term.
“We look forward to partnering with the existing mill team members, customers, suppliers, and community stakeholders to continue the mill’s successful history of local engagement and economic development.”
The First Quality group of companies manufacture, sell, and distribute branded and private label absorbent hygiene, paper and packaging products into the healthcare, retail, and commercial channels.
The Paper Excellence Group is a privately-held holding company that oversees individual pulp and paper business units.