May 24, 2013
/PRNewswire/ - Catalyst Paper (TSX: CYT) announced that it has sold its Elk Falls industrial site and related assets to Quicksilver Resources Canada Inc., a
-based corporation with extensive natural gas holdings. The
sale was signed and closed today.
Sale of the approximate 1,200-acre parcel includes a fully serviced, 400-acre industrial site and adjacent property near
. 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
Catalyst operations support 7,000 direct and indirect jobs and generate nearly
in annual BC economic impact. With a combined annual production capacity of 1.5 million tonnes, company facilities are located in
. Catalyst is headquartered in
Richmond, British Columbia
, Canada and is ranked by
magazine as one of the 50 Best Corporate Citizens in
SOURCE Catalyst Paper Corporation