AbitibiBowater Purchases Full Ownership of Augusta Newsprint

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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