Twin Rivers Paper Company has finalized the sale of Plaster Rock Lumber Corporation, its softwood lumber mill in Plaster Rock, N.B., to eastern Canadian lumber manufacturer and North American forest products leader Groupe Lebel.

The sale is aligned with Twin Rivers’ strategy of investing in and growing its core business of specialty and kraft paper production.

The transaction includes a long-term supply agreement for Groupe Lebel to provide Twin Rivers Paper with by-product chips and biomass utilized by Twin Rivers’ pulp and cogeneration operations in Edmundston, N.B.

Groupe Lebel is one of the main lumber manufacturers in Eastern Canada to be vertically integrated, from the cutting of trees to the distribution of finished products.

Twin Rivers Paper had announced its intention to sell the lumber mill in December 2022.