Domtar announced on March 1 the completion of the sale of the Personal Care business to American Industrial Partners for $920 million.
“This sale provides significant dry powder to enable our conversion projects and the building of our packaging business,” said President and Chief Executive Officer John D. Williams. “I want to thank the employees of Domtar Personal Care for their hard work and dedication throughout the process, and for their contributions over the years.”
Williams also acknowledged Michael Fagan, president of the Personal Care division, who will be leaving Domtar. “On behalf of the board and all of our colleagues, I thank Mike for his leadership and exemplary service,” Williams said.
This sale is an important step in preparing Domtar for a new future as a smaller, stronger corporation, focused on paper, pulp and packaging.
Fagan unveiled the new company’s identity, Attindas Hygiene Partners, on March 3 to employees and the public.
“Although we are no longer a part of Domtar, I want to let you know that Domtar will always be a part of us,” he said to Domtar employees. “Thank you for the positive role you played in making us who we are today, and for the friendships we built along the way.”