Asia
Pulp and Paper Co. has cancelled the purchase and sale agreement for APP’s
acquisition of a 420,000 metric ton capacity northern bleached softwood kraft
pulp mill in Castlegar, B.C. This past spring the company announced plans to
acquire the facility for $378 million. Due to financing difficulties APP has
not been able to continue with the plan.
APP
currently has a pulp capacity of 2.3 million metric tons and a paper and
packaging capacity of 5.7 million metric tons. It is the largest “Asian paper
company outside Japan.
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