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Tolko Sells Manitoba Kraft Paper Mill to Canadian Kraft Paper Industries Limited

Author:AdminPopularity:454 Publication time:2017-01-12

The Pas, Manitoba, Canada, November 10, 2016  Tolko Industries Ltd. today completed the sale of its pulp, paper, and saw mill facility in The Pas, Manitoba to Canadian Kraft Paper Industries Limited (CKP), an affiliate of American Industrial Acquisition Corporation (AIAC). The paper mill had previously been scheduled to be shut down on Dec. 2, 2016. CKP will retain the approximately 330 current employees at the mill which include members of the Unifor and United Steelworkers unions.

 

“Tolko is pleased that the mill will remain open, now with a different owner, protecting the jobs and manufacturing operations in and around the The Pas,” said Jim Baskerville,

Vice President of Tolko Industries Ltd.

 

Founded in 1956 and based in Vernon, British Columbia, Tolko Industries Ltd. is a major forest products company. It manufactures and markets specialty forest products to world markets. Tolko's products include lumber, plywood, veneer, and oriented strand board.

 

As part of the operation, the kraft paper mill in The Pas produces approximately $150 million CAD in high quality specialty paper used for the durable packaging of cement mix and other materials.

 

“We are excited to welcome the pulp and paper mill in The Pas into the AIAC global family of companies,” said William Raedle, Senior Vice President of AIAC. “We can now assure our loyal customers, who expressed strong support for the mill remaining open during the last 2 months, that they can continue to look forward to a reliable supply of the highest quality kraft paper, manufactured from the most sustainably operated, and environmentally respected, forestry region in North America.”

 

Raedle added that, “We are grateful for the enthusiastic support and encouragement of the leaders and members of the Unifor and United Steel Workers unions, the Town of The Pas and the Province of Manitoba. Without their meaningful contributions, this transaction would not have been completed.”

 

AIAC is a U.S.-based industrial group comprised of 63 manufacturing sites in 16 countries, and has approximately $1.6 billion (CAD) (US $1.2 billion) in annual revenues and approximately 9,000 employees. The group was built over the last 20 years by acquiring, operating and growing former divisions and subsidiaries of leading multinational corporations such as Boeing, Merck, Siemens, United Technologies, Lockheed Martin, Kodak, Johnson Controls, Raytheon, Moog, Novellis, Ahlstrom, and Jabil Circuits.

 

“The Government of Manitoba is extremely pleased by the successful completion of an agreement between Tolko Industries Ltd. and Canadian Kraft Paper Industries Limited that will preserve existing jobs and secure long-term, sustainable development through one of the primary employers in northern Manitoba,” said Premier Brian Pallister. “We offer our congratulations to all those who have worked so diligently to bring this deal to a close in the best interests of all Manitobans. The collective efforts of the purchaser and seller, Swampy Cree Holdings, the Town of The Pas and the mill’s past and present employees are to be commended.”

 

Raedle also recognized the vision and hard work of the Swampy Cree Tribal Council (SCTC) and the newly established Swampy Cree Holdings (SCH). “Their leadership and desire to work collaboratively with us has allowed development of a landmark agreement in Manitoba to promote economic, cultural, and environmental objectives.”

 

Speaking on behalf of the eight First Nations that own SCH, Opaskwayak Cree Nation

 

(OCN) Chief, Christian Sinclair said, “Today is an important day for our many communities as we embark on a path of shared responsibilities on forest management and environmental protection. We welcome AIAC and CKP to Manitoba and look forward to our partnership with them.”

 

Mathias Colomb Cree Nation (MCCN) Chief, Arlen Dumas, a member of the SCH board, added, “We have worked diligently with CKP to realize this transaction which represents an historic milestone for our communities in Manitoba.”

 

AIAC companies manufacture a wide range of products for the packaging, pharmaceutical, aerospace, defense, automotive, rail, appliance, oil and gas, mining, power generation, and refrigeration industries. AIAC companies serve GE, GM, Ford, Chrysler, Daimler, VW, Renault, Toyota, Tesla, Boeing, Airbus, General Dynamics, Honeywell, Merck, Shell, Du Pont, Dow, Tetra Pak, and other global corporations.

 
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