Resolute to Sell Thunder Bay Pulp and Paper Mill to Affiliate of Atlas Holdings

Resolute Forest Products Inc., a subsidiary of Domtar Corporation and a part of the Paper Excellence Group, today announced that it has entered into an asset purchase agreement to sell its Thunder Bay pulp and paper mill in Ontario, Canada, to an affiliate of Atlas Holdings.

The Thunder Bay mill produces northern bleached softwood kraft and northern bleached hardwood kraft pulp, along with newsprint and directory grades of paper.

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 pursuant to which Resolute will continue to provide chips and biomass to the Thunder Bay mill.

The transaction, expected to close in the second half of the year, is subject to the satisfaction or waiver of closing conditions, including obtaining required regulatory approvals.

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