Rayonier Advanced Materials Inc. and Tembec Inc. announced that they received clearance from the Competition Bureau of Canada, without condition, of the previously announced proposed statutory arrangement under Section 192 of the Canada Business Corporations Act involving the acquisition by Rayonier Advanced Materials of all of the outstanding shares of Tembec. In addition to clearance by the Competition Bureau, the Transaction already has received antitrust clearance from the Anti-Monopoly Bureau of the Ministry of Commerce of the People’s Republic of China, Germany’s Federal Cartel Office, and the United States Department of Justice and the Federal Trade Commission. As such, Rayonier Advanced Materials and Tembec have now received all required antitrust clearances. The Transaction has also been approved by Tembec’s shareholders and by the Québec Superior Court. Subject to obtaining other necessary approvals, as well as the satisfaction or waiver of other conditions to the Transaction, it is expected that the Transaction will be completed in the fourth quarter of 2017.

International technology group ANDRITZ has been awarded significant service contracts by SCA, Europe’s largest private forest owner, to further improve the performance of the Östrand pulp mill in northern Sweden. The contracts include the replacement of an economizer in the recovery boiler and the implementation of the SYNERGY Services concept for the white liquor plant and pulp drying processes. These improvements will increase availability and efficiency, thus helping to deliver the mill’s primary objective of increasing pulp production. Replacing recovery boiler heating surfaces, such as economizers, is one of ANDRITZ’s core service capabilities. According to Per Strand, Mill Manager at SCA Östrand: “We appreciated the solid design of the ANDRITZ economizers and the dedication shown by the project team. When we tested the SYNERGY concept, we found it to offer a structured approach that we believe can support our efforts to optimize pulp production at the Östrand mill.”

The acquisition of Crane Stationery marks a significant milestone for WP Strategic Holdings as it expands its portfolio into the luxury goods sector. This strategic move underscores WP Strategic Holdings' dedication to fostering the growth and development of companies with rich legacies and a commitment to excellence. Tom O'Connor Jr, former CEO at Mohawk Paper, and instrumental figure in facilitating the acquisition, played a pivotal role in orchestrating the transaction. His extensive experience and deep industry knowledge were invaluable assets in navigating the complexities of the deal and ensuring a smooth transition.