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First Quality Enterprises has announced the acquisition of a pulp mill located in Dryden, Ontario. The pulp mill was previously owned by Domtar Corporation, a wholly-owned subsidiary of the Paper Excellence Group.
According to a press release, the Dryden pulp mill "produces high quality Northern Bleached Softwood Kraft (NBSK) pulp for customers in North America."
Jim Dodge, Chief Financial Officer of First Quality, said, "First Quality saw this as an excellent strategic investment given the knowledgeable leadership team, premium quality NBSK coming from the mill, and the access and availability to high quality fiber supplies long term. We look forward to partnering with the existing mill team members, customers, suppliers, and community stakeholders to continue the mill's successful history of local engagement and economic development"
The press release also notes that the transaction is "expected to close in the third quarter of 2023," and remains "subject to customary closing conditions, including receipt of required regulatory approvals."