Resolute Forest Products is set to be sold, but company officials promise business as usual for Thunder Bay

Resolute Forest Products has been eyeing future investment in its Thunder Bay pulp mill to make it more competitive, executive Seth Kursman said. (Matt Prokopchuk/CBC)

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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.

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Source: CBC News

 

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