Our History

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. Purchased in 1987 by Fletcher Challenge Limited of New Zealand and merged with BC company Crown Forest Industries, Fletcher Challenge Canada Limited was 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. Norske Skog Canada doubled the size of the company in 2001 by acquiring Pacifica Papers; the merged operation assumed the name NorskeCanada.

In 2003, Newstech Recycling was acquired to in-source the supply of de-inked pulp. The facility was closed in 2010 due to reduced paper demand and constrained availability of affordable, high-quality recovered paper for recycling.

In October 2005 the business was renamed Catalyst Paper to clearly differentiate the company with customers and accurately reflect the capital ownership structure.

In late 2006, Third Avenue Management acquired approximately 38% of the company’s stock following the exit of Norske Skog as a major shareholder.

In April 2008, Catalyst expanded beyond the province with the acquisition of the Snowflake Mill, a 100% recycled paper production facility in northern Arizona. This significantly increased the company’s recycled paper production capacity.

 

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Recent News

Thursday, July 29, 2010

Richmond, BC – Catalyst Paper (TSX:CTL) today announced several changes to its board of directors which take effect July 30, 2010.

Assuming the role of chairman is Benjamin Duster IV, former chairman of Algoma Steel. Mr. Duster joined the Catalyst board in December 2007 bringing 20 years of Wall Street experience. He is a graduate of Harvard Business and Harvard Law Schools and was admitted to the Illinois Bar in 1985. Mr. Duster is a director on several corporate boards including Jazz Air Holding GP Inc.

Thursday, July 29, 2010

Richmond, (BC) – Catalyst Paper (TSX:CTL) recorded a net loss of $368.4 million ($0.96 per common share) on sales of $299.4 million for the second quarter of 2010. Results were significantly impacted by after-tax impairment and closure costs of $302.0 million on the permanent closure of the Elk Falls and Paper Recycling Divisions. The net loss before specific items was $43.9 million ($0.11 per common share) compared to $37.6 million ($0.10 per common share) in the previous quarter. Specific items included a $21.3 million after-tax foreign exchange loss on the translation of long-term debt.

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