AbitibiBowater Purchases Full Ownership of Augusta Newsprint
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AbitibiBowater Inc., Montreal, Que., Canada, has acquired full ownership of the Augusta Newsprint Co., Augusta, Ga., USA., buying out joint venture partner Woodbridge International Holding's 47.5% stake in the mill. Augusta Newsprint will pay Woodbridge a $90 million promissory note plus the lesser of $15 million in cash or Augusta's pro-rata portion of the partnership's cash on the day before the transaction was announced.
With two newsprint machines, the Augusta mill has a production capacity of 419,000 metric tpy.
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