Page 4 - Catalyst Paper News Today

Premier Horgan argues forestry companies should reinvest their profits in value-added production in B.C.

Paper Excellence is shutting down its Catalyst Paper mill in Powell River indefinitely putting 206 people out of work citing ongoing losses.

The company says the contraction of global paper markets is partly behind their decision.

More than 200 mill workers in Powell River, B.C., are out of a job Wednesday after Paper Excellence announced the indefinite end of operations at its Catalyst Paper tiskwat mill.

In its first quarter earnings report released on Monday, Verso Corp., the Memphis, Tenn.-based owner of the Jay paper mill, posted an $88 million net loss and a $110 million operating loss, close to double what it was the same quarter last year.

  VICTORIA -- Tuesday will mark 41 days since Vancouver Island has seen any measurable amount of rain, and that is drying up rivers in the Cowichan Valley. Work is underway to rebuild the banks of the Cowichan River after heavy winter rainfalls eroded them away. With the banks eroded, homes are vulnerable to flooding when waterflows are high. Dredging work will also be done to remove sedimentation from the rivers floor. That work is to help save the upcoming salmon run. "We’re losing po...

But at that rate, there would not be enough water into September, said Brian Houle, manager of environment for Catalyst Paper. That’s why the company is asking the provincial and federal government to allow the minimum flow to go as low as 4.5 cubic metres per second. If the minimum allowed flow isn’t dropped, Houle predicts there would be close to zero flow by summer’s end. Fisheries watchers around the province are concerned about the impact the drought will have on salmon. By now, ...

(CP) Paper Excellence is expanding into the U.S. with a deal to buy Domtar Corp. in an agreement with an enterprise value of about US$3 billion. The Richmond, B.C.-based company will pay US$55 per Domtar share in cash, a 37 per cent premium from May 3 when a media report disclosed a possible transaction. “This marks a major step in our global strategy of identifying well-positioned assets and positioning them for growth,” said Joe Ragan, Paper Excellence’s global chief financial officer. ...

Paper Excellence intends to continue the paper and pulp manufacturing operations of Domtar as a standalone business entity. As such, Domtar will continue to be led by its management team and Paper Excellence plans to retain Domtar's Fort Mill, S.C.-based corporate office and paper and pulp mill locations.

Ross Marowits Domtar president and CEO John Williams arrives at the paper companys annual meeting, Wednesday, April 30, 2014 in Montreal. THE CANADIAN PRESS/Paul Chiasson May 11, 2021 - 2:02 PM Paper Excellence is expanding into the U.S. with a deal to buy Domtar Corp. in an agreement with an enterprise value of about US$3 billion. The Richmond, B.C.-based company will pay US$55 per Domtar share in cash, a 37 per cent premium from May 3 when a media report disclosed ...