The latest announcement is out from Mercer International Inc (MERC).
Mercer International Inc. has announced the end of its joint venture with West Fraser Timber Co. Ltd., effectively dissolving their shared ownership of Cariboo Pulp and Paper. West Fraser will take over as the sole proprietor of the mill without any financial penalties for either party. Mercer International will keep a portion of the finished product inventory and anticipates recognizing a non-cash impairment loss due to the dissolution for the first quarter of 2024.
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