One of the most significant employers in northwestern Ontario is set to be sold to a private multinational company.
The Paper Excellence Group, which purchased Domtar last year for approximately $3 billion, announced on July 6 that it had reached an agreement to purchase Resolute for approximately $3.5 billion ($2.7 billion U.S.). Resolute operates facilities in northwestern Ontario, including Thunder Bay, Atikoken, and Ignace. The transaction is subject to shareholder and regulatory approvals.
Source: CBC News
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