Richmond, BC – Catalyst Paper today announced that the sale of its Elk Falls site in Campbell River to Pacifica Deep Sea Terminals Incorporated did not close and the sale agreement has been terminated. The sale of the 400-acre industrial site and adjacent properties was initially expected to close on September 5, 2012. A non-refundable prepayment of a portion of the purchase price was received and the transaction timeline was extended multiple times up to the ultimate deadline of December 18, 2012.
News Archive: December 2012
Richmond, BC – Catalyst Paper announced that it has accepted, subject to US Court approval, a binding bid from an acquisition vehicle organized by Hackman Capital and its affiliates to purchase the assets of the closed Snowflake facility and the shares of Apache Railway for US$13,460,000 and other non-monetary consideration. The buyer intends to continue to operate the Apache Railway as a going concern, and the transaction is supported by the Town of Snowflake and various local interests.