Resolute Forest Products Inc. announced the signing of an agreement to acquire the assets of Tembec's sawmill located in Senneterre, Quebec. By adding the operations of the Tembec sawmill to those of the company's existing Senneterre sawmill, Resolute expects to improve the productivity of its facilities and optimize the related woodlands operations in the Abitibi and Nord-du-Québec regions. The transaction will be completed once all the conditions related to the purchase agreement are met to the satisfaction of the parties.
PG Paper in Kilmacolm near Glasgow acquired Trucard and associated brands, together with the Gemini range, “for a substantial sum” on Friday.
No further details of the amount paid have been revealed. KPMG joint administrator of Tullis Russell Papermakers, Blair Nimmo, said the company “was the highest bidder in a competitive sale process”.
A PG Paper spokesman said the company owners – husband and wife team Puneet and Poonam Gupta – planned to manufacture the paper products. “They will be tendering globally to see what kind of response they get,” he said.
A statement released by the Guptas said both brands were “incredibly reputable and well-respected in the premium packaging board industry”.
“As a global paper company we feel the addition of these brands to our portfolio will enable us to strengthen our presence and continue to grow our established position in the market.
“Historically PG Paper’s strength lay in graphical grades and in recent years we have experienced significant growth in packaging and speciality papers and boards. We feel that Trucard and Gemini will enable us to solidify our presence and build upon our recent successes to achieve our ambitious growth plans for the future.”