Catalyst Paper completes acquisition of U.S. paper mills
Catalyst Paper Corp (TSX: CYT) has closed its previously announced acquisition of the Biron paper mill in Wisconsin and the Rumford pulp and paper mill in Maine. The final purchase price was US$62.4 million. Following the deal, the Richmond, British Columbia-based Catalyst said it has become "a larger and stronger company" with five facilities across North America and an estimated production capacity of 2.1 million tons of paper and 500 thousand tons of pulp. Last November, U.S. distressed debt investor Cyrus Capital Partners grew its stake in Catalyst, taking indirect control of around 43.3 percent of the company’s shares.
7 January 2015•6 mins read
