RICHMOND, BC, May 24, 2013 /CNW/ - Catalyst Paper (TSX: CYT) announced
that it has sold its Elk Falls industrial site and related assets to
Quicksilver Resources Canada Inc., a Calgary-based corporation with
extensive natural gas holdings. The $8.6 million sale was signed and
Sale of the approximate 1,200-acre parcel includes a fully serviced,
400-acre industrial site and adjacent property near Campbell River. The
site formerly housed a paper and pulp mill which began operation in
1952, was indefinitely curtailed in 2009 and closed permanently in
2010. Work has been underway since then to prepare the site for sale
and redevelopment for other industrial uses.
Catalyst Paper manufactures diverse specialty mechanical printing
papers, newsprint and pulp. Its customers include retailers, publishers
and commercial printers in North America, Latin America, the Pacific
Rim and Europe.
Catalyst operations support 7,000 direct and indirect jobs and generate
nearly $2 billion in annual BC economic impact. With a combined annual
production capacity of 1.5 million tonnes, company facilities are
located in Crofton, Port Alberni, Powell River, Surrey and Nanaimo.
Catalyst is headquartered in Richmond, British Columbia, Canada and is
ranked by Corporate Knights magazine as one of the 50 Best Corporate Citizens in Canada.
SOURCE: Catalyst Paper Corporation
For further information:
Vice President, Marketing & Corporate Responsibility