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In March, Trump applied a duty to Catalyst Paper's products of 28.25%. Catalyst owns pulp and paper mills in three towns here in BC, including Powell River, about an hour from me and where I go when I go to town.
https://www.voiceonline.com/decision-paper-tariffs/
As a result, Catalyst has sold it's American mills in Rumford, Maine and Biron, Wisconsin for $175M US to Nine Dragons Paper Ltd., a Chinese company that trades on the Hong Kong exchange.
https://www.northislandgazette.com/news/catalyst-paper-to-sell-u-s-mills-to-chinese-company/
President and CEO Ned Dwyer said the sale allows Catalyst to pay it's debt and focus on it's BC operations.
It'll be worth watching what happens in Maine and Wisconsin. About 12 years ago I worked on Annacis Island dismantling a paper machine that had become outdated and packing it carefully into shipping containers to be sent to China. The price of this sale, $175M, sound lowball to me. Don't be surprised if those mills get dismantled.
MAGA!
https://www.voiceonline.com/decision-paper-tariffs/
As a result, Catalyst has sold it's American mills in Rumford, Maine and Biron, Wisconsin for $175M US to Nine Dragons Paper Ltd., a Chinese company that trades on the Hong Kong exchange.
https://www.northislandgazette.com/news/catalyst-paper-to-sell-u-s-mills-to-chinese-company/
President and CEO Ned Dwyer said the sale allows Catalyst to pay it's debt and focus on it's BC operations.
It'll be worth watching what happens in Maine and Wisconsin. About 12 years ago I worked on Annacis Island dismantling a paper machine that had become outdated and packing it carefully into shipping containers to be sent to China. The price of this sale, $175M, sound lowball to me. Don't be surprised if those mills get dismantled.
MAGA!
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