Domtar announces closing of sale of Ottawa/Gatineau hydro assets
(All financial information is in CAD$, unless otherwise noted.)
(NYSE: UFS) (TSX: UFS)
MONTREAL, Nov. 22, 2012 /PRNewswire/ - Domtar Corporation (NYSE: UFS) (TSX: UFS) today confirmed the November 20 closing of its previously announced Definitive Purchase and Sale Agreement ("the agreement") signed by its Canadian subsidiary, Domtar Inc., for the sale of its hydro assets in Ottawa, Ontario and Gatineau, Québec. The purchaser is Chaudière Hydro L.P. ("Chaudière Hydro"), the newly-created affiliate of Energy Ottawa Inc.
The approximately $46 million transaction, after closing adjustments,
includes Domtar's three power stations (21 MW of installed capacity),
Domtar's water rights in the area, as well as the company's equity
stake in the Chaudière Water Power Inc. (CWPI) ring dam consortium.
With the closing of the agreement, the 12 workers currently operating
the three power stations become employees of Chaudière Hydro.
Domtar Corporation (NYSE: UFS) (TSX: UFS) designs, manufactures, markets and distributes a wide variety of fiber-based products including communication papers, specialty and packaging papers and adult incontinence products. The foundation of its business is a network of world class wood fiber converting assets that produce papergrade, fluff and specialty pulps. The majority of its pulp production is consumed internally to manufacture paper and consumer products. Domtar is the largest integrated marketer of uncoated freesheet paper in North America with recognized brands such as Cougar®, Lynx® Opaque Ultra, Husky® Opaque Offset, First Choice® and Domtar EarthChoice®. Domtar is also a leading marketer and producer of a complete line of incontinence care products marketed primarily under the Attends® brand name. Domtar owns and operates ArivaTM, an extensive network of strategically located paper and printing supplies distribution facilities. In 2011, Domtar had sales of US$5.6 billion from nearly 50 countries. The Company employs approximately 9,300 people. To learn more, visit www.domtar.com.
SOURCE DOMTAR CORPORATION
More by this Source
Domtar declares regular quarterly dividend
Feb 19, 2014, 14:00 ET
Domtar Corporation reports preliminary fourth quarter and fiscal year 2013 financial results
Feb 07, 2014, 07:35 ET
Domtar Corporation 2014 quarterly earnings schedule
Jan 20, 2014, 12:02 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.