Abitibi-Consolidated Inc. signed a letter of intent with a consortium comprised of SNC-Lavalin Inc., le Fonds de solidarite des travailleurs du Quebec and Clermont Levasseur to sell its Chandler, Quebec mill for $35 million before taxes.
The consortium has agreed to convert the mill to high-quality coated freesheet grades. Investment costs for the consortium's project are expected to total approximately $420 million.
The transaction is expected to close in the third quarter, subject to completion of environmental due diligence.
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