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WFP to sell Squamish pulp mill site
Western Forest Products Inc. has entered into a conditional agreement for the sale of its former Woodfibre Pulp Mill site, located at the head of Howe Sound, southwest of Squamish, British Columbia.
January 30, 2013 By Western Forest Products
The purchase price for the site, consisting of 212 acres of industrial waterfront land, is $25.5 million.
Closing of the sale is subject to certain conditions, and Western will be responsible for satisfactorily remediating the property to applicable environmental standards prior to closing the sale.
The net proceeds from the sale are expected to be approximately $17 million.
“Our non-core asset divestiture program will continue to further strengthen our balance sheet and provides additional financial flexibility to pursue our strategic capital plan,” said Dominic Gammiero, Chairman and Chief Executive Officer.
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