Displaying items by tag: domtar

Domtar Corporation has announced that its Board of Directors authorized an increase to its share buyback program of $400 million. The original program announced on May 5, 2010 now has an aggregate authorization of $1 billion. The Company has previously repurchased approximately 6.6 million shares of common stock for a total cash consideration of $536 million pursuant to this program. Domtarhas returned in excess of $600 million of capital to shareholders through a combination of share repurchases and dividends since May 2010.

"With this additional authorization from the Board, we have the flexibility to continue to implement our share repurchase program as a key element of our disciplined capital allocation strategy. Our commitment remains to return a majority of future free cash flow to shareholders," said John D. Williams, President and Chief Executive Officer. "Since the inception of the program in May 2010, we have reduced Domtar's outstanding share count by 15 percent and we believe such repurchases continue to be an excellent means to return capital to our shareholders."

Under the share buyback program, the Company is authorized to repurchase from time to time shares of its outstanding common stock on the open market or in privately negotiated transactions in the United States. The timing and amount of stock repurchases will depend on a variety of factors, including the market conditions as well as corporate and regulatory considerations. The share repurchase program may be suspended, modified or discontinued at any time and the Company has no obligation to repurchase any amount of its common stock under the program. The Company intends to make all repurchases in compliance with applicable regulatory guidelines and to administer the plan in accordance with applicable laws, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended.

The Company had a total combined number of common stock and exchangeable shares issued and outstanding of 36,805,300 shares at November 30, 2011.

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Wednesday, 23 November 2011 12:00

Domtar takes home two International Awards

Domtar Corporation took home the Environmental Strategy of the Year Award and the Promotional Campaign of the Year - Environmental Message Award at the Pulp and Paper International (PPI) Awards 2011 ceremony held on November 15th in Brussels, Belgium.

Domtar President and CEO John D. Williams attended the ceremony and noted, "The finalists in each of the categories make up a distinguished list from around the world, and we are proud to be among those recognized for their industry leadership.  The Environmental Strategy of the Year and Promotional Campaign of the Year awards are a great honor and a testament to our continued sustainability efforts on a number of fronts."

The Environmental Strategy of the Year award recognizes the company's efforts in the areas of sustainable forest management, greenhouse gas reduction and water management, as well as the 2011 development of the Domtar Paper Trail, an online tool that creates personalized customer reports of the environmental and socio-economic impacts of specific paper grade purchases.

The Promotional Campaign of the Year recognizes Domtar's PAPERbecause video, social media and print ad campaign telling the story of paper's utility and sustainability in a humorous and engaging way.  The campaign was originally launched in 2010 and recently renewed with the introduction of five new videos.

"For years we've been championing sustainable forest management and fiber procurement, and at the same time we've devoted considerable resources to pursuing emissions reduction and energy efficiency initiatives at our mills," added Lewis Fix, Domtar's Vice-President of Sustainable Business and Brand Management.  "Now with the Domtar Paper Trail and the PAPERbecause campaign, we are saying that stakeholder engagement and transparency are a big part of putting our commitment to sustainability into practice."

For more information, please visit www.paperbecause.com and www.domtarpapertrail.com.

The PPI Awards are organized by RISI, the leading information provider for the global forest products industry. They are the industry's only global awards that honor leadership, vision, innovation and strategic accomplishments. Winners were named on November 15th at an event in Brussels that overlaps with RISI's European Paper Week.

Published in Press Releases

Domtar Corporation (NYSE: UFS) (TSX: UFS) today announced the signing of a definitive agreement for the acquisition of privately-held Attends Healthcare, Inc. ("Attends"), manufacturer and supplier of incontinence products, from KPS Capital Partners, L.P. for $315 million. The closing of the transaction is expected during the third quarter 2011, subject to customary closing conditions.

"This is a good transaction that allows us to take measured steps into the consumer products market in a product area where high single-digit global growth is expected," said John D. Williams, President and Chief Executive Officer of Domtar. "We believe there is the potential to double Attends' earnings within five years and we are committed to unleashing the great organic growth potential. With this acquisition, we will consume internally some of our high quality Lighthouse™ fluff pulp produced in our nearby Plymouth, North Carolina mill. Domtar will continue to look for innovative ways to build growing businesses based on sustainable wood fiber."

Attends produces a complete line of incontinence care products and washcloths marketed primarily under the Attends® brand name. The company has a wide product offering encompassing over 170 SKUs and it serves a diversified customer base in multiple channels throughout the United States and Canada. The company operates a 775,000 square foot facility with nine production lines and a state-of-the-art distribution center in Greenville, North Carolina. Attends has approximately 330 employees, annual sales of approximately $200 million, and an estimated run-rate EBITDA of $39 million.

Michael Fagan, currently President and Chief Executive Officer of Attends Healthcare, Inc., will continue in his functions. Commenting on the transaction, Mr. Fagan said, "I am delighted to join Domtar and to take the business to the next level of success. With strong commitment and support, the new ownership structure will allow us to realize the full potential of Attends."

The acquired business will be presented as a new reportable segment in Domtar's financial statements filed to the Securities and Exchange Commission starting in the quarter following the closing of the transaction. Domtar will use cash on hand to pay for the acquisition and intends to redeem most of Attends' outstanding debt upon closing of the transaction.

Please refer to the attached fact sheet for further information.

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Already a Leader in Offering Environmentally and Socially Responsible Products, Domtar Will Increase Its Annual Sales of FSC-Certified Paper by More Than 150,000 Tons

 

Marking a new milestone in environmental responsibility, Domtar Corporation (NYSE: UFS) (TSX: UFS) announced today a broad expansion of its paper products that are certified to the standards of the Forest Stewardship Council™ (FSC®).

 

Beginning today, Domtar's EarthChoice® product line - the broadest collection of environmentally and socially responsible papers available - will now include specialty products used for bandage wraps, popcorn bags, candy wrappers, sugar pouches, hamburger wrap and a wide range of other everyday applications. Domtar produces these specialty papers at mills in Espanola, Ontario; Port Huron, Michigan; and Rothschild and Nekoosa, Wisconsin, all of which are certified to FSC standards by the Rainforest Alliance.

 

Domtar also announced today that all production of its Domtar Tradebook paper will now be FSC-certified and renamed EarthChoice® Tradebook. The product, specifically designed for book publishers who are committed to sustainability and providing an environmentally responsible choice, had previously been FSC-certified only on request.

 

As a result of this expansion, Domtar will annually sell more than 150,000 additional tons of FSC-certified paper.

 

"We have worked with Domtar for over a decade now," said Tensie Whelan, president of the Rainforest Alliance, whose SmartWood program audits forests and companies to FSC standards. "With these new FSC-certified products, Domtar continues to move the industry forward when it comes to environmental responsibility."

 

FSC certification ensures that forests are managed in a way that protects nature and the people who live and work there. Auditors perform a thorough assessment, checking a range of criteria such as:

 

 

  • The steps taken to protect soil and water;
  • Safeguards that provide protection to fish and wildlife; and
  • Whether the number of trees harvested is less than the number that either regrow naturally or get planted.

The announcements mark the latest steps by Domtar, a long-time promoter of FSC certification, to demonstrate its environmental leadership. In June, for instance, Domtar launched an online tool called the "Paper Trail," providing unmatched transparency among today's industry calculators. The tool allows customers to view the environmental impacts of specific paper grades, helping businesses and consumers measure their impact on the environment whilst providing guidance in their choice of paper product.

 

"In 2009, we were proud to be the first company to sell one million tons of FSC-certified EarthChoice paper, and we're excited that today, we can expand that line even further to include specialty products and book papers," said Lewis Fix, Domtar Vice-President of Sustainable Business and Brand Management. "This is going to help provide more ways for our customers to put their commitment to sustainability on paper. After all, we're more than just a paper company, we're the Sustainable Paper Company."

Published in Canadian News
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New Tool Shares Environmental and Social Impacts of Making Domtar Paper, Discloses Successes and Challenges

A new environmental tool from Domtar Corporation offers customers the ability to view the environmental impacts of specific paper grades, providing unmatched transparency among today's industry calculators.


The online tool that we call the "Paper Trail" discloses what it takes to manufacture Domtar paper and assists businesses and consumers to measure their impact on the environment while also providing guidance in their choice of product.


The Paper Trail (www.domtarpapertrail.com) develops personalized reports that measure Domtar products across five categories: water usage, the distance fiber travels to a paper mill, greenhouse gas (GHG) emissions, waste sent to landfills and renewable energy usage. The data is displayed in real-world equivalents, with comparisons to issues such as the amount of water the average household uses or the amount of waste it generates. The Paper Trail will also illustrate how Domtar compares to the rest of the industry in these particular categories.


"We know consumers are increasingly aware of their effect on the environment and want to know where their paper comes from. We think we have a good story to tell, and part of that story is being transparent," said Lewis Fix, Domtar Vice President of Sustainable Business and Brand Management.


"Other paper calculators often give only part of the story," Fix said. "They usually compare recycled and non-recycled grades and the differences in resources used, and they estimate savings based only on industry averages. The Paper Trail will show Domtar mill-specific data, and since no company is environmentally perfect, it indicates what we are doing well and what needs to be improved. We think it's crucial to share all the information, and then let the customers make their own decisions."


The Paper Trail is Domtar's most recent project indicating its leadership as a sustainable paper company and highlighting its environmentally preferable paper products, which have earned the support of well-known environmental organizations such the Rainforest Alliance.


Initially, the Paper Trail will measure the impact of two Domtar products: EarthChoice® Office Paper and Cougar®, both of which have been certified to the standards of the Forest Stewardship Council" (FSC®), which is recognized by the Rainforest Alliance as the world's most comprehensive certification for responsible forest management. As part of the EarthChoice product line, they help form the broadest and most flexible collection of environmentally responsible papers available in the marketplace. More products and mills will likely be added to this new and exciting online tool in the future.


The Paper Trail will also provide users with a look at Domtar's mills - all of which are in North America - with additional information about each facility's environmental impact and the social and economic benefits the mills have in their communities. In areas where the environmental impact can be improved, Domtar will voluntarily disclose the information, as well as provide efforts for improvement.


"Transparency means sharing everything, not just the highlights, and just as we are committed to developing responsible products, we are committed to transparency," Fix said. "Realizing our paper comes from sustainable sources and is easily recycled, Domtar customers can see the differences and use our products with greater confidence."

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The nanocellulose joint venture of Domtar and FPInnovations will be named CelluForce, the partners announced in early June. Construction of the NCC production facility is underway at Domtar's Windsor, Que., pulp and paper mill, and will be completed in the fourth quarter of this year. The companies expect to be producing NCC in January 2012.

 

The joint venture, launched last year, will be led by Jean Moreau, a former vice-president finance with Domtar. CelluForce already has about 30 employees, and a headquarters in Montreal.

 

"The name CelluForce reminds us that one of the main characteristics of the nanocrystalline cellulose is the great strength it provides to the materials to which it is added, but the name also represents the strength of our relationships with our shareholders, our partners and out customers, which is one of the company's core values," explains Moreau.

 

He notes that the new venture differs from traditional pulp and paper products because the end product will be marketed as a chemical. "The input is pulp, the output is NCC, which is a specialty chemical ingredient."

 

source: pulpandpaper canda

Published in Featured Products

Domtar Corporation is proud and honored to announce today that it has been selected as one of the Top Three of the 50 Best Corporate Citizens in Canada by Corporate Knights. Corporate Knights is an independent and top-ranked Canadian-based media company that publishes the world's largest circulation magazine that focuses on corporate responsibility. The 50 Best Corporate Citizens List, announced June 8th, is based on environmental, social and governance indicators found in the public domain, as well as an assessment of how these companies manage their carbon, energy, water usage and waste production.

 

"We are not just a paper company," said John D. Williams, President and CEO of Domtar Corporation, "We are The Sustainable Paper Company. We believe that our ongoing association with major, respected environmental organizations and our sincere efforts in the domain of sustainability were key factors for our inclusion among the Top Three Corporate Citizens in Canada. We look forward to continuing these award-winning efforts and we will continue to raise the bar as a leader when it comes to sustainability in the Pulp and Paper industry."

 

Domtar engages with many major, respected environmental organizations to promote sustainability and earth-conscious projects, such as the World Wildlife Fund and Rainforest Alliance. Our work with The Nature Conservancy on the Working Woodlands pilot project is helping small forestry owners develop sustainable forest management plans that are certified by the Forest Stewardship CouncilTM. Our award-winning Paper Because Campaign was launched this past year to reestablish paper as a sustainable, personal and purposeful resource. Domtar Corporation is the highest ranked Basic Materials Company in the list of the 50 Best Corporate Citizens in Canada.

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May 11 Award Ceremony Honors Achievements in Sustainable Forestry,
Agriculture, and Tourism and Climate Change

 

Domtar Corporation Continuing its work with the Rainforest Alliance to help promote sustainability, Domtar announced today it will co-sponsor the Rainforest Alliance 2011 Annual Gala. The environmental group's 20th annual dinner and award ceremony May 11 in New York City will feature special guests Sigourney Weaver and Jane Alexander, and it will honor companies and individuals for their achievements in sustainable forestry, agriculture, tourism and climate change.


Proceeds from the gala will benefit the Rainforest Alliance's comprehensive conservation initiatives, helping ensure sustainable livelihoods and conserve biodiversity. The Rainforest Alliance pioneered the concept of responsible forestry certification in 1989, for instance, and has since certified more than 65.1 million hectares (160.8 million acres) in more than 74 countries to the rigorous standards of the Forest Stewardship Council™ (FSC®). The goal: to meet comprehensive environmental, social and economic standards which curb deforestation, provide habitat for wildlife and protect the rights and well-being of workers, their families and their communities.


"This is an important event for recognizing companies for their demonstrated commitments to sustainability," said Tensie Whelan, president of the Rainforest Alliance. "We are delighted to have worked with Domtar for over a decade now. Domtar continues to raise the bar for the paper industry, setting an example to encourage environmental responsibility."


This marks the sixth year Domtar has sponsored the Gala, one of the ways Domtar has teamed with the Rainforest Alliance to encourage responsible paper production and fiber sourcing. With the help of the Rainforest Alliance, all of Domtar's more than 30 facilities have now been certified to FSC standards, and the FSC label and the Rainforest Alliance Certified™ seal have grown more visible on packages of Domtar paper. Nearly 20 percent of Domtar's paper products have been FSC certified while, across America, the FSC estimates that only 4 to 6 percent of paper products earn that distinction.


"We're proud to be at the forefront of the responsible production and use of forest products, and we're excited to help honor this year's Sustainable Standard-Setters," said Lewis Fix, Domtar Vice President of Sustainable Business and Brand Management. "We're looking forward to the Rainforest Alliance's 2011 Gala, and a chance to salute some of this year's remarkable achievements in sustainability."

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Domtar Corporation has announced that, no later than July 1, 2011, it will permanently shut down one of four paper machines at its Ashdown, Arkansas pulp and paper mill. This will reduce Domtar's annual uncoated freesheet paper production capacity by approximately 125,000 short tons. The mill's workforce will be reduced by approximately 110 employees.

 

"Domtar is committed to keeping a balance between its supply and its customer demand. Because secular demand decline in North America continues, we must permanently reduce our uncoated freesheet paper production capacity," said John D. Williams, President and Chief Executive Officer of Domtar. "I want to thank affected employees for their efforts, and recognize all Domtar Ashdown mill employees for their hard work and continued focus on safety," added Mr. Williams.

 

Following the shutdown, the Ashdown mill will continue to operate three fiber lines, a pulp dryer and three paper machines, and employ approximately 940 people. The mill will have an annual production capacity of approximately 810,000 metric tons of pulp and approximately 780,000 short tons of paper.

 

The closure will result in an aggregate pre-tax charge to earnings of approximately $80 million, which includes an estimated $77 million in non-cash charges relating to the accelerated depreciation of the carrying amounts of manufacturing equipment and the write-off of related spare parts and $3million related to other costs. Of the estimated total pre-tax charge of approximately $80 million, $6million is expected to be recognized in the first quarter of 2011 and $74 million is expected to be incurred in the second quarter of 2011.

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Domtar Corporation is pleased to announce that it has reached a settlement in its dispute with the City of Windsor regarding the tax evaluation of Domtar's Windsor mill.

 

The agreement between the two parties is based on application of the Court of Québec judgment regarding the 2006-2007-2008 roll. The judgment by the Administrative Tribunal of Québec ratifies the agreement between the parties, to wit, to apply to the Court of Québec judgment of September 27, 2010 to the 2009-2010-2011 roll.

 

In October 2010, Domtar informed the municipality that it wished to come to an agreement. "We are satisfied with the work done by the experts on both sides to apply the clauses in the judgment on the 2009-2010-2011 roll and pleased that the tribunal has ratified our agreement. We can now turn the page and continue our efforts to position the mill for the future," said Martin Lorrion, Vice-President, Operations - Domtar Region 1.

 

Following the settlement, Domtar withdrew its originating motion for judicial review before the Québec Superior Court for the 2006-2007-2008 roll.

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