Abitibi-Consolidated entered into an agreement to increase its share of Pan Asia Paper. The company, along with Norske Skog, jointly purchased Hansol Paper’s stake in the operation for $350 million.
The transaction is expected to be complete by this July. Paper Asia Paper produces 1.45 million metric tons of newsprint and groundwood paper a year.
Upon completion of the acquisition, Singapore-based Pan
Asia Paper will be a 50-50 joint venture.
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