Kruger Completed Kamloops Pulp Mill Acquisition

SEATTLE (Scrap Monster): Kruger announced that its subsidiary Kruger Specialty Papers Holding L.P. has completed the previously announced acquisition of Domtar’s pulp mill in Kamloops, British Columbia.

The acquired facility will continue to operate as usual. All existing volume commitments and agreements with customers and suppliers will be honoured. The Kruger press release noted that all of the mill’s 320 jobs will be maintained and that it will go ahead with the ongoing initiatives to modernize the mill.

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François D'Amours, Kruger's Executive Vice President and Chief Operating Officer expressed happiness in welcoming new Kamloops colleagues into the group and to expand its activities in British Columbia. The world-class facility is a natural fit for Kruger, due to its strong emphasis on product quality, employee safety and sustainability. The company is committed to strengthening relationships with the Mill's existing customers, suppliers, and business partners, as well as with the local community, he added.

The acquisition will strengthen Kruger’s presence in British Columbia as a major employer and provider of essential products. It will raise the company’s total employees in the province to around 700.

Scotiabank acted as financial advisor to Kruger in the transaction, while McCarthy Tétrault LLP was the legal advisor.