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Abitibi to buy newsprint assets from Stone's Arizona-based unit

Article Abstract:

Abitibi-Consolidated Inc. of Montreal, Quebec, is acquiring the newsprint operations of Snowflake, AZ-based Stone Snowflake Newsprint Co. for $250 million. Stone Snowflake is partly owned by its parent firm Stone Container Corp. of Chicago, IL. The deal includes two newsprint machines capable of producing 287,000 tons per year of 70% recycled newsprint. Both firms will benefit from the deal because it allows Abitibi-Consolidated to expand its newsprint operations in the US while Stone intends to concentrate on its paperboard and paper packaging operations. Stone Containers plans to utilize the money to reduce its debt of C$4.6 billion.

Comment:

Is selling the newsprint operations of its subsidiary Snowflake, AZ-based Stone Snowflake Newsprint Co for $250 mil

Paperboard Containers, Paperboard Container Manufacturing, Quebec, Illinois, Parent-to-subsidiary activities, Newsprint, Newsprint Mills, Paper products industry, Abitibi-Consolidated Inc., Stone Container Corp., Article, Stone Snowflake Newsprint Co.

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Boise raises stakes in fight for Groupe Forex

Article Abstract:

Boise Cascade Corp, based in Boise, ID, increased its offer for Montreal, Canada-based Groupe Forex Inc to C$736 million from C$700 million. The new offer topped Portland, OR-based Louisiana-Pacific Corp's C$714 million bid for the leading manufacturer of the building products, oriented strandboard, a material in demand in light of the growing housing market in North America.

Canada, Veneer, Plywood, and Engineered Wood Product Manufacturing, Millwork, Plywood & Structurals, Structural wood products, Groupe Forex Inc.

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