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Name Change to Catalyst Paper |
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Shareholders approve NorskeCanada plan to change name to Catalyst Paper
Updated at 15:24 on October 3, 2005, EST.
VANCOUVER (CP) - NorskeCanada changed its name to Catalyst Paper Corp.
on Monday after shareholders overwhelmingly backed the move at a
special meeting.
The Vancouver company said shareholders voted 99 per cent in favour of the change, first proposed this summer.
The paper company will begin using the new name immediately and will
begin trading Thursday under a new ticker symbol - CTL - on the Toronto
Stock Exchange.
"We are an independent company and it's time we had a name that is
uniquely our own," president and chief executive Russell Horner said in
a release. "Catalyst is a good description of the way we operate and is
a recognized trademark as the product brand we used to successfully
market our directory papers around the world."
The company announced in late July it wanted to change its name
following a decision in June to dissolve a joint venture North American
specialty marketing arrangement between NorskeCanada and Norway's
Norske Skog ASA - its biggest shareholder - effective Oct. 1.
Catalyst (TSX:NS) produces mechanical printing papers as well as market
pulp, with an annual capacity of 2.5 million tonnes. The company has
five mills employing 3,800 people on the south coast of British
Columbia.
The Canadian Press, 2005 |
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