Date: Thursday August 31, 2006 11:06:00 am
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Weyerhaeuser to combine fine paper business
August
2006 — Federal Way (WA): Weyerhaeuser has reached an agreement to
combine its fine paper business and related assets with Domtar.”This
transaction will create the North American market leader in fine paper
and we anticipate that the combination will generate approximately $200
million in annual synergies within the next two years,” said Steven
Rogel, Weyerhaeuser’s chairman, president and CEO.The transaction gives
Weyerhaeuser shareholders 55 percent ownership in the new company and
includes a $1.35 billion cash payment to Weyerhaeuser.
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