Paper Excellence Canada (PEC), Richmond, B.C., Canada, this week announced it has entered into an agreement to acquire Catalyst Paper Corp., including its three facilities located in Crofton, Port Alberni, and Powell River, B.C, and its Surrey distribution center and headquarters in Richmond, B.C. The agreement is subject to regulatory review and approvals.

Catalyst Paper manufactures 1.3 million metric tons of pulp and paper products. These products include industrial packaging, food service, coated groundwood, newsprint, and directory papers. Customers include retailers, publishers, and commercial printers in North America, Latin America, the Pacific Rim, and Europe.

Paper Excellence has evolved from a new entrant as an exporter within the value-added natural resources (pulp) industry to being among one of Canada's largest pulp producers.

"For months we've been working hard to secure the 1,500 jobs and pensions of Catalyst workers in Crofton, Port Alberni, and Powell River. Today's announcement by Paper Excellence is another welcome vote of confidence in B.C. and most of all, the people who add value to our natural forest resources," said B.C. Premier John Horgan.

"Paper Excellence is evolving into a major player within Canada's forest industry," said Brian Baarda, Paper Excellence CEO. "This announcement is a continued step towards Paper Excellence's long-term growth plan within Canada and the province. With this acquisition, Paper Excellence is clearly demonstrating its commitment to British Columbia."

Paper Excellence manufactures NBSK Pulp for the paper industry and BCTMP for printing, board, and packaging. PEC's products are exported to Asia. PEC's products are produced from renewable resources which are accredited with PEFC and/or FSC sustainability certifications.