Domtar in merger talks with Canadian company


FORT MILL, S.C. (WJHL) — Domtar has been in discussions with a Canadian company regarding a possible acquisition or merger.

In a press release Tuesday, Domtar confirmed that management has been in discussions with Paper Excellence, a rival paper company based in British Columbia.

“However, these discussions may or may not result in an agreement,” Domtar stated.

The company said it will have no further comment “unless or until there is a transaction to announce.”

Domtar laid off more than 300 workers last year when it shut down its Kingsport mill. However, the company said it would repurpose and reopen the facility by 2023 with about 150 employees.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Don't Miss

More Don't Miss