Domtar Completes Offering, Funds to Help Pay for the Georgia-Pacific Mills
Press release from the issuing company
MONTREAL, Oct. 5 - Domtar Inc. announced today the closing of its public offering of 40,209,790 common shares at a price to the public of CDN$ 11.44 per share.
The gross proceeds of the offering are CDN$ 460 million. Domtar will use the net proceeds of the offering to repay part of the indebtedness it incurred for the purchase of four pulp and paper mills in the United States from Georgia-Pacific Corporation on August 7th, 2001.
Domtar is the second largest producer of uncoated freesheet paper in North America and the third largest in the world. It is also a leading manufacturer of business papers, printing and publishing papers, and specialty and technical papers. Domtar manages close to 36 million acres of forest land in Canada and the United States, and produces lumber and other wood products. The company also has a 50% investment interest in Norampac Inc., the largest Canadian producer of containerboard. Domtar has 12,500 employees across North America.
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