Paper Excellence Announced Acquisition of Assets of North Island Chipping Facility

SEATTLE (Scrap Monster): Richmond, B.C.-based Paper Excellence announced the acquisition of an interest in the Atli Chip Limited Partnership. The partnership will focus on reduction of residual fibre left behind after primary forest harvesting.

The partnership acquired the assets of the North Island Chipping facility situated in Beaver Cove, BC. The facility has capacity to process 300,000 to 400,000 m³ of chips per year, which will be used in the paper and pulp industry. The partnership, whose major ownership rests with Atli Resources LP owned by the Namgis First Nation, also has Wahkash Contracting Ltd. as a minority partner.

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Quinton Hayward, Chief Forester for Paper Excellence said that the company is proud to be part of the partnership. It demonstrates the importance given by the company for nurturing good relationships with indigenous communities and their business ventures. The partnership will help the company to support community investment, Hayward added.

Along with the acquisition, Paper Excellence has also entered into a chipping services agreement to receive all the chip and hog production from the facility. In addition, the Salvage Agreement with Atli Resources LP is expected to increase First Nations participation in the forest sector.