Resolute Forest Products, one of Canada’s largest pulp and paper companies, announced it’s intention to acquire a popular pulp producer with mills in Canada and the US.
Fibrek produces virgin and recycled kraft pulp at mills located in Saint-Félicien, Québec, Fairmont, West Virginia, and in Menominee, Michigan with a combined annual production capacity of 760,000 tonnes.
According to Richard Garneau, president and CEO of Resolute, the proposed acquisition fits well in the company’s plans for the future.
“The acquisition of Fibrek is consistent with our strategy,” he says in an article published by Pulp and Paper Canada. “As we continue to focus on building a sustainable and profitable company, growth in expanding global pulp markets is the right move, at the right time, for Resolute Forest Products.”
Currently, Resolute produces several different products including newsprint, commercial printing papers, market pulp and wood pulp. According to Pulp and Paper Canada, the company “owns or operates 18 pulp and paper mills and 23 wood product facilities in the United States, Canada and South Korea.”
In name alone, Resolute Forest Products is relatively new. Last month, the Canadian pulp and paper producer once known as AbitibiBowater began the rollout of its new name and identity.
According to Garneau, the change reflects the changing pulp and paper industry and the commitment of the company to remain diverse.
“The launch of our new identity, Resolute Forest Products, underscores our forward momentum,” he says. “Our 10,000 employees are united and ready to deliver on Resolute’s vision of continued sustainability and profitability.”