Domtar Completes Sale Of Norampac Interests

Ashdown, AR - Domtar announced recently that it has closed the sale of its 50% interest in Norampac to Cascades, as announced on December 5. The net after tax proceeds from the sale will be used to reduce Domtar's initial financing requirements to complete the transaction combining it with Weyerhaeuser's fine paper business. Or, the proceeds will be used to repay indebtedness, the company notes.

Domtar is the third largest producer of uncoated freesheet paper in North America. It also produces business papers, commercial printing and publication papers, and technical and specialty papers. The company manages 18 million acres of forestland in Canada and the U.S. and produces lumber and other wood products. It has 8,500 employees across North America.

SOURCE: Domtar