Water is one of the world’s most precious resources, and is inextricably linked to combating climate change. According to the UN, 2.2 billion people worldwide lack safe drinking water and the responsible use of water will help reduce floods, droughts, scarcity and pollution. As a leading manufacturer of packaging and paper, water is vital to our global operations and responsible water stewardship is central to how we do business. Since 2014 we have promoted a landscape approach to water stewardship, working together with farmers, local government, and industries, who all share a common interest in maintaining freshwater ecosystems and services.
While the merger of Domtar and Paper Excellence has been approved by the Competition Bureau of Canada, part of the approval means the Kamloops pulp mill must be sold to a third party.
On May 11, 2021, Paper Excellence and Domtar, based on Montreal and Fort Mill, S.C., entered reached an agreement for Richmond-based Paper Excellence to purchase Domtar for $55.50 per share, a deal worth about $3 billion in United States currency. The merger agreement had a provision that limited the obligation to divest assets to no greater than 410,000 dried metric tons of softwood kraft pulp. The Domtar pulp mill in kamloops has 408,000 tons of production and is the company’s only kraft pulp mill in B.C. that is part of the deal.
The Competition Bureau of Canada has concluded that the merger would likely lessen competition substantially for the purchase of wood fibre — a key input in the manufacture of pulp — from the Thompson/Okanagan region.
more at source: https://www.kamloopsthisweek.com/local-news/kamloops-pulp-mill-must-be-sold-to-third-party-as-part-of-domtarpaper-excellence-merger-4776454