Papiers Gaspésia Sells Quebec Mill for $40 Million

Papiers Gaspésia has agreed to sell its Quebec mill and associated equipment to Vantek Inc. for US$40 million. Papiers Gaspésia is owned by Société générale de financement du Quebéc, Solidarity Fund QFL, Tembec and Investissement Québec. Vantek plans to sell the main equipment and remove the buildings. Liquidities generated from the deal will be invested in an economic development fund for new projects in the region.