THUNDER BAY PULP AND PAPER ACQUIRES THUNDER BAY MILL FROM RESOLUTE FP CANADA

Rhea-AI Summary

Atlas Holdings has completed the acquisition of the pulp, newsprint, and directory paper mill operations in Thunder Bay, Ontario from Resolute FP Canada. The mill is a leading producer of pulp, paper, newsprint, and directory products. Kent Ramsay has been named President of Thunder Bay Pulp and Paper. Randy Nebel has been appointed as Chairman of the Board of Directors. Atlas Holdings owns and operates 27 companies worldwide.

Positive

• Atlas Holdings has successfully acquired the Thunder Bay mill, expanding its portfolio in the pulp and paper industry. The acquisition provides an opportunity for Atlas to bring its experience and expertise to further the legacy of the mill. Kent Ramsay's appointment as President of Thunder Bay Pulp and Paper ensures continuity in leadership. Randy Nebel, an industry executive with extensive experience, has been appointed Chairman of the Board of Directors.

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• None.

Major Pulp and Paper Operation in Thunder Bay, Ontario Joins Atlas Holdings' Family of Leading Pulp, Paper and Converting Companies

GREENWICH, Conn., Aug. 1, 2023 /PRNewswire/ -  Atlas Holdings ("Atlas") announced today the closing of the previously announced acquisition of the pulp, newsprint and directory paper mill operations in Thunder Bay, Ontario ("Thunder Bay" or "Mill") from Resolute FP Canada Inc. by Atlas' affiliate, Thunder Bay Pulp and Paper Inc.

Thunder Bay is a leading northern bleached softwood kraft and northern bleached hardwood kraft pulp, paper, newsprint and directory producer. The Mill has been a landmark in northwestern Ontario for more than a century. Kent Ramsay, who has served as General Manager of the Mill since 2019, has been named President of Thunder Bay Pulp and Paper.

"The Atlas team has been working hand-in-hand with our local team to prepare for this day as we begin the next chapter of this Mill's storied history. I am proud to continue to lead this team and work with Atlas to stand up the Mill as a thriving, self-sufficient pulp and paper operation and continue our legacy as a hallmark of the Thunder Bay community for many years to come," said Kent Ramsay.

"We wish to welcome the Thunder Bay team to the Atlas family of companies. We look forward to working alongside Kent and his team to build upon the Mill's heritage as a trusted employer in the region and reliable industry player," said Daniel Merriam, Principal at Atlas Holdings. "Atlas has successfully partnered with experienced Leadership Teams to acquire, strengthen and operate many pulp and paper businesses since our founding more than two decades ago, including several in Canada, and we are excited by the opportunity to bring our team's experience to further the legacy of this Mill as Thunder Bay Pulp and Paper."

Atlas also announced the appointment of paper and packaging industry executive Randy Nebel as Chairman of the Thunder Bay Pulp and Paper Board of Directors. Nebel has extensive experience in the pulp and paper sector, having previously served as President and Chief Executive Officer of Verso Corporation (NYSE: VRS), a leading North American producer of graphic, specialty and packaging paper and market pulp, and President of Longview Paper & Packaging, a leading manufacturer of high-quality containerboard, corrugated products and other specialty papers. Most recently, Nebel has served as Chairman of the Board of Crown Paper Group, which Atlas acquired in October 2022.

 "The Board is looking forward to guiding Thunder Bay Pulp and Paper in this new era for the business. Our deep experience across the pulp and paper industry and time spent supporting businesses with Canadian operations will provide the right foundation and guidance for Thunder Bay as we continue to be a trusted employer as well as a reliable partner to our customers, suppliers, and the Thunder Bay community," said Randy Nebel.

About Atlas Holdings

Headquartered in Greenwich, Connecticut and founded in 2002, Atlas and its affiliates own and operate 27 companies, which employ more than 50,000 associates across 300 facilities worldwide. Atlas operates in sectors such as automotive, building materials, capital equipment, construction services, food manufacturing and distribution, metals processing, packaging, paper, power generation, printing, pulp, supply chain management and wood products. Atlas' companies together generate approximately $16 billion in revenues annually. For additional information, please visit www.atlasholdingsllc.com.

About Thunder Bay Pulp and Paper Inc.

Thunder Bay Pulp and Paper is a leading northern bleached softwood kraft and northern bleached hardwood kraft pulp, paper, newsprint and directory producer. The Thunder Bay mill has been a leading pulp and paper operation in Ontario for more than a century.

To learn more, please visit tbpulpandpaper.com.

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SOURCE Atlas Holdings LLC

FAQ

Who acquired the Thunder Bay mill?

Atlas Holdings acquired the Thunder Bay mill.

What is the Thunder Bay mill known for?

The Thunder Bay mill is known for being a leading producer of pulp, paper, newsprint, and directory products.

Who has been appointed as President of Thunder Bay Pulp and Paper?

Kent Ramsay has been appointed as President of Thunder Bay Pulp and Paper.

Who has been appointed as Chairman of the Board of Directors?

Randy Nebel has been appointed as Chairman of the Board of Directors.

How many companies does Atlas Holdings own and operate?

Atlas Holdings owns and operates 27 companies worldwide.