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West Fraser and Atlas Holdings finalize Pulp mill sale for $120 million
Posted on October 3, 2023 |
West Fraser Timber Co. Ltd. and Atlas Holdings reached a definitive deal to sell the Quesnel River Pulp mill in Quesnel, BC, and the Slave Lake Pulp mill in Slave Lake, Alberta, to Atlas for $120 million.
The transaction also contains related woodlands operations and timber holdings in Alberta, along with a long-term fiber supply agreement for the Quesnel River Pulp facility.
These pulp mills will come under the management of Milar Western Forest Products, an entity that became a part of the Atlas family of manufacturing and distribution businesses in 2017.
The completion of this transaction is subject to customary regulatory reviews and the satisfaction of standard closing conditions. It is anticipated to close shortly.