Domtar Inc. to buy E. B. Eddy units of George Weston
Article Abstract:
The consolidation of the paper industry continues with Domtar Inc.'s agreement to buy the E. B. Eddy forest-products units of George Weston Ltd. for C$803 million. Domtar, already Canada's largest fine-paper producer, will now become the seventh largest North American maker of such products. Domtar's debt, which represents 41% of total capitalization, leaves open the option of pursuing other acquisitions. Weston, which holds about 20% of Domtar's shares, will use sale proceeds to pay down debt.
Comment:
E. B. Eddy's forest-products units acquired from George Weston Ltd. by Domtar Inc. for C$803 million
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Air Canada is hit by strike of pilots union
Article Abstract:
Pilots with Air Canada went on strike in August 1998 all over Canada and in the US. The strike came just days after Northwest Airlines' pilots' union went on strike. Both Air Canada and its pilots were not that far apart in their talks before the strike began. Air Canada has 2,100 pilots. Some experts believe that the strike will only last a few days as passengers seek seats on other airlines and as the carrier loses millions while the strike continues.
Comment:
Pilots with Air Canada go on strike all over Canada and in the US
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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MacMillan Bloedel to unveil limits on logging
Article Abstract:
MacMillan Bloedel Ltd. will announce a plan that will terminate the clear-cutting of timber that the company harvests in British Columbia. The company will also announce major restrictions in cutting timber in "old growth" forests. The announcements are major reversals of MacMillan's policy on old growth forests. Lumber companies in British Columbia have asserted that the safest and most economic way to log forests in the province is by clear-cutting.
Comment:
To announce a plan that will terminate the clear-cutting of timber that the company harvests in British Columbia
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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