The Aditya Birla Group of India and Tembec announced in early April that they had signed a Framework Agreement with the province of New Brunswick to acquire the recently closed St. Anne Nackawic pulp mill in central New Brunswick. The acquisition will be a joint venture between the two companies in which Birla will be the majority partner and Tembec the lead operator. The two companies have an existing relationship in the AV Cell partnership running the pulp mill in Atholville, NB. Work will begin soon after closing to convert the mill to allow it to produce a mix of paper, dissolving and specialty pulps, helping to cushion it from the commodity-dominated world of hardwood pulp for paper products.
More info at www.tembec.com.
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