As AbitibiBowater continues to operate under bankruptcy protection, the Montreal-based company has sold approximately 121,000 hectares of private timberlands in Quebec for $53 million in cash.
Timberlands located in the Mauricie, Charlevoix and Saguenay regions were sold to two newly formed limited partnerships held by Société de gestion d’actifs forestiers Solifor, s.e.c. Timberlands located in the Côte-Nord region were sold to Aménagements forestiers Portneuf.
AbitibiBowater is primarily focused on the production of newsprint but also manufacturers commercial printing papers, market pulp and wood products. It is the eighth largest publicly traded pulp and paper manufacturer in the world, with 23 pulp and paper facilities and 29 wood products facilities located in the United States, Canada, the United Kingdom and South Korea.
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