Atlas Holdings adds another pulp and paper company to its portfolio of investments.
Resolute Forest Products (Resolute), a subsidiary of Domtar Corporation and part of the Paper Excellence Group, has completed the sale of the company’s Thunder Bay mill to Thunder Bay Pulp and Paper, an affiliate of Atlas Holdings. The divestment was a requirement under the consent agreement entered into between Domtar and the Canadian Commissioner of Competition in connection with Domtar’s recent acquisition of Resolute.
The Thunder Bay pulp and paper mill in Canada’s Ontario province produces northern bleached softwood and hardwood kraft market pulp, newsprint and specialty paper with a capacity of 554,000 tpy. Around 460 people work at the site.
Resolute and Thunder Bay parties have entered into a long-term woodchip and biomass supply agreement pursuant to which Resolute will continue to provide chips and biomass to the Thunder Bay mill from its sawmills and woodlands operations in Northwestern Ontario.
Thunderbay mill’s general manager Kent Ramsay will serve as President of Thunder Bay Pulp and Paper. Randy Nebel, Chairman of the Board of Atlas’ affiliate Crown Paper Group, was appointed Chairman of the Thunder Bay Pulp and Paper Board of Directors, Atlas Holdings announced.