Tolko has sold its operations in The Pas

Tolko has sold its operations in The Pas

Tolko sells Manitoba operation

Canadian Kraft Paper Industries has acquired The Pas mill

Vernon-based Tolko Industries has sold its Manitoba operation.

Canadian Kraft Paper Industries, a company affiliated with American Industrial Acquisition, has purchased Tolko’s kraft paper mill and sawmill in The Pas.

“We are pleased negotiations with Canadian Kraft Paper Industries have reached a successful conclusion,” said Brad Thorlakson, Tolko president.

As part of the agreement, all current Manitoba employees will transition to Canadian Kraft Paper Industries, and maintain operations going forward.

“I want to thank the employees at the Manitoba operation for their dedication and patience throughout this process, and to the retirees for their support of the sale,” said Thorlakson.

In August, Tolko announced it was closing the facility Dec. 2, impacting 332 people. At the time, the company stated that the operation was not  financially sustainable.