West Fraser Timber Co. Ltd. agreed to sell its unbleached softwood kraft pulp mill in Hinton, Alberta to Mondi Group plc, a prominent figure in sustainable packaging and paper. This agreement establishes a lasting partnership between the two entities in the region. Under the deal, West Fraser will persistently provide fibre to the Hinton mill via its Alberta sawmills' residuals. Mondi plans to invest CAN$549 million (€400 million), pending pre-engineering and permitting approval, to expand the Hinton mill, mainly adding a new 200,000 tonne per annum kraft paper machine expected to be operational by the latter half of 2027. Ray Ferris, West Fraser's President & CEO, highlighted the mutual benefits this collaboration with Mondi offers, ensuring an enduring prosperous future for the mill. Mondi is an extensive packaging and paper firm with operations in over 30 countries. Andrew King, Mondi Group CEO, expressed enthusiasm about their investment in Canada, emphasizing the intent to enhance the mill's eco-friendly measures. Notably, West Fraser anticipates recognizing a substantial impairment loss from the sale due to the minimal proceeds, with asset and liability values of CAN$157.9 (US$115 million) and CAN$151 million (US$111 million) as of end-2022 and March 2023, respectively. The deal is set to finalize post customary regulatory reviews. West Fraser has enlisted TD Securities Inc. as its exclusive financial advisor and McMillan LLP as its legal advisor.