Today’s Catalyst Paper Corporation is formed of operations from predecessor companies that have their own rich histories.
The main branch of the family tree is British Columbia Forest Products Limited. Formed in 1946, it soon became one of the province’s largest integrated forest products companies. It was purchased in 1987 by Fletcher Challenge Limited of New Zealand and merged with BC company Crown Forest Industries. Fletcher Challenge Canada Limited was thereby established with a sharpened focus on pulp and paper.
In 2000, Norwegian paper company Norske Skog purchased all of Fletcher Challenge’s pulp and paper assets and the company name changed to Norske Skog Canada Limited.
The size of the company doubled in 2001 with the acquisition of Pacifica Papers – operator of paper facilities previously owned by MacMillan Bloedel - and the merged operation assumed the name NorskeCanada.
In 2003, Newstech Recycling was acquired to in-source the supply of de-inked pulp.
In 2005 the business was renamed Catalyst Paper to clearly differentiate the company with customers and to accurately reflect the capital ownership structure.
In 2006, Third Avenue Management acquired approximately 38% of the company’s stock following the exit of Norske Skog as a major shareholder.
In 2008, Catalyst acquired the Snowflake Mill, a 100% recycled paper production facility in northern Arizona, significantly increasing its recycled paper production capacity.
Over the next several years, Catalyst Paper worked intensively to rationalize its operations, reduce its costs, and ensure competitive product positioning in the midst of very challenging industry transformation. This involved closure of some facilities, including its two recycling operations.
Catalyst undertook a debt restructuring process in 2012, with the benefit of the cooperation of creditors, employees, operating communities and other stakeholders. The company emerged from creditor protection within only a few months, with new ownership, a much-strengthened balance sheet and further-reduced costs.
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