Domtar signs agreement with Cranberry Business Park Ltd. to sell remaining lands at the tiskwat paper mill site

Domtar (formerly Paper Excellence) has signed a purchase agreement with Cranberry Business Park Ltd. for the acquisition of the remaining portion of its lands at the former tiskwat paper mill site in Powell River, British Columbia.

Craig Austin and Thomas Logocki of Cranberry Business Park commented: “We are looking forward to contributing to the economic future of Powell River and the region. With waterfront access and abundant energy sources, this site holds tremendous potential. We are proud to be part of the revitalization of the city’s Historic Townsite, alongside our neighbour at tiskwat, the Tla’amin Nation.”

Carlo Dal Monte, Vice President, Legacy Assets at Domtar, added: “It was a priority for Domtar to find a buyer who would ensure that the lands continue to support employment and generate long-term economic benefit for the broader community. In March, we returned a substantial portion of the tiskwat site to the Tla’amin Nation. We are proud that the agreements we’ve reached pave the way for a promising future for the region.”

Earlier this year, Domtar and the Tla’amin Nation jointly announced the return of a significant portion of the tiskwat lands to the Nation — a historic agreement that reflects the company’s reconciliation-focused approach in its engagement with Indigenous communities.

Closing of the transaction is expected to occur later this year, subject to standard regulatory approvals.

About Domtar

Domtar is a leading privately held manufacturer of diversified forest products, employing approximately 14,000 people across more than 60 locations in North America. The company has an annual production capacity of 9.1 million metric tonnes of pulp, paper, packaging and tissue, as well as approximately 3 billion board feet of lumber and other wood products.