Domtar Responds to Press Speculation
Domtar (NYSE: UFS) has acknowledged media speculation regarding potential discussions with Paper Excellence for a possible business combination or acquisition. The management confirmed that they are in talks, but no agreement has been reached yet. Domtar stated their intention to refrain from further comments unless there is a definitive transaction to report. The company, with annual sales of approximately $3.7 billion and a workforce of around 6,600 employees, continues to focus on providing a variety of fiber-based products globally.
- Engagement in discussions with Paper Excellence could lead to a strategic business combination.
- No definitive agreement has been reached, creating uncertainty.
Domtar (“Domtar” or the “Corporation”) (NYSE: UFS) (TSX: UFS), has been made aware of press speculation regarding discussions between the Corporation and Paper Excellence with respect to a possible business combination or acquisition.
In response to that speculation, Domtar acknowledges that its management has been in discussions with Paper Excellence about such a potential transaction. However, these discussions may or may not result in an agreement.
Domtar does not intend to make further comment unless or until there is a transaction to announce.
Forward-Looking Statements
Certain statements contained in this press release, the information incorporated herein by reference, and other written and oral statements made from time to time by us or on our behalf are based on current expectations, projections about operations, industry conditions, financial condition, and liquidity, may not relate strictly to historical or current facts and may contain forward-looking statements that reflect our current views with respect to future events and financial performance including the proposed transaction between Domtar and Paper Excellence. As such, they are considered “forward-looking statements” which provide current expectations or forecasts of future events. Such statements can be identified by the use of terminology such as “anticipate”, “believe”, “expect”, “intend”, “aim”, “target”, “plan”, “continue”, “estimate”, “project”, “may”, “will”, “should” and similar expressions. These forward-looking statements should be considered with the understanding that such statements involve a variety of risks and uncertainties, known and unknown, and may be affected by inaccurate assumptions. Consequently, no forward-looking statement can be guaranteed and actual results may vary materially. Many risks, contingencies and uncertainties could cause actual results to differ materially from our forward-looking statements.
About Domtar
Domtar is a leading provider of a wide variety of fiber-based products including communication, specialty and packaging papers, market pulp and airlaid nonwovens. With approximately 6,600 employees serving more than 50 countries around the world, Domtar is driven by a commitment to turn sustainable wood fiber into useful products that people rely on every day. Domtar’s annual sales are approximately
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