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WEST FRASER TO SELL TWO PULP MILLS IN WESTERN CANADA TO ATLAS HOLDINGS
WEST FRASER TO SELL TWO PULP MILLS IN WESTERN CANADA TO ATLAS HOLDINGS Canada NewsWire ...
About this update from West Fraser Timber Co. Ltd.
[{"type":"text","content":"\n \n \n \n WEST FRASER TO SELL TWO PULP MILLS IN WESTERN CANADA TO ATLAS HOLDINGS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Both Mills to be Operated by Alberta-Based Pulp Industry Leader Millar Western Forest Products\n \n \n \n \n \n VANCOUVER, BC\n \n and\n \n GREENWICH, Conn.\n \n \n ,\n \n \n Sept. 22, 2023\n \n \n /CNW/ - West Fraser Timber Co. Ltd. (\"West Fraser\" or the \"Company\") (TSX and NYSE: WFG) and Atlas Holdings (\"Atlas\") today announced the signing of a definitive agreement for the sale of West Fraser's Quesnel River Pulp mill in\n \n Quesnel, British Columbia\n \n and its Slave Lake Pulp mill in\n \n Slave Lake, Alberta\n \n to Atlas. Atlas owns and operates several pulp, paper and wood products businesses in\n \n Canada\n \n and\n \n the United States\n \n .\n \n \n The agreement announced today includes related woodlands operations and timber holdings in\n \n Alberta\n \n and a long-term fibre supply agreement for the Quesnel River Pulp facility.\n \n \n Upon closing of the transaction, the Quesnel River and\n \n Slave Lake\n \n pulp mills will be operated by Millar Western Forest Products (\"Millar Western\"), which joined the global Atlas family of manufacturing and distribution businesses in 2017.\n \n Millar Western\n \n is a more than 100-year-old Canadian forest products company headquartered in\n \n Edmonton\n \n with existing pulp mill operations in\n \n Alberta\n \n , establishing a strong foundation and a bright future for the Quesnel River and\n \n Slave Lake\n \n pulp mills.\n \n \n Combined total cash proceeds from the sale are\n \n US$120 million\n \n .\n \n \n \"We believe this transaction provides these two great assets and teams a strong strategic future while allowing West Fraser to focus our resources on our objective to be the premier wood building products company in\n \n North America\n \n ,\" said\n \n Ray Ferris\n \n , West Fraser's President & CEO. \"Atlas Holdings and\n \n Millar Western\n \n bring deep experience in the pulp sector, ...