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Paper makers ink deal
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August 4, 1998: 12:09 p.m. ET
Weyerhaeuser acquiring Ontario mill from Bowater for $520 million
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NEW YORK (CNNfn) - Weyerhaeuser Co. said Tuesday it has agreed to purchase Bowater Inc.'s fine paper mill in Dryden, Ontario, for approximately $520 million.
The companies said the Dryden facility has a capacity of 380,000 short tons of fine paper per year and a small amount of bleached softwood market pulp. The transaction also includes the Ear Falls sawmill and the Dryden stud mill.
Bowater makes newsprint, coated and uncoated groundwood papers and lumber products.
Weyerhaeuser, one of the world's largest integrated forest products companies, had sales of $11.2 billion in 1997.
Weyerhaeuser (WY) shares fell 9/16 to 40-7/8 in late-morning trading. Bowater trading was halted on the New York Stock Exchange as news of the deal broke. 
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Bowater
Weyerhaeuser
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