Resolute Forest Products Announces Asset Purchase Agreement to Sell Its Thunder Bay, Ontario, Pulp and Paper Mill

Resolute Forest Products Inc., a subsidiary of Domtar Corporation and a part of the Paper Excellence Group, announced on Tuesday (5-30-23) that it has entered into an asset purchase agreement to sell its Thunder Bay, Ontario, pulp and paper mill to an affiliate of Atlas Holdings. The transaction is expected to close during the second half of 2023 and is subject to the satisfaction or waiver of closing conditions, including obtaining required regulatory approvals.

The sale of Thunder Bay pulp and paper mill is a requirement under the consent agreement entered into between Domtar Corporation and the Canadian Commissioner of Competition and Registered with the Canadian Tribunal in connection with its review of Domtar Corporation’s recent acquisition of Resolute.

According to the press release, Resolute will continue to operate its sawmills and woodlands operations in Northwestern Ontario. At the closing of the transaction, the parties will enter into certain ancillary agreements, including a long-term woodchip and biomass supply agreement to which Resolute will continue to provide chips and biomass to the Thunder Bay pulp and paper mill.