Sinar Mas Group, an Indonesian paper producer with investments in palm oil and financial services, agreed to buy an idled wood-pulp mill in northern British Columbia, the provincial government said.
Sinar Mas, through a subsidiary of its Asia Pulp & Paper unit, plans to resume pulp production at the mill near Mackenzie before the end of the year, according to an e-mailed statement. The price wasn’t disclosed.
The mill, the second for Sinar Mas in Canada, has a capacity to produce about 235,000 metric tons of pulp a year, British Columbia said in the statement.
Sinar Mas also owns and operates a mill in Meadow Lake, Saskatchewan.