Home | Business News | Browse by Publication | P | PR Newswire

Neenah Paper Agrees to Sell 500,000 Acres of Nova Scotia Timberlands for $140 Million.

Publication: PR Newswire
Publication Date: 09-MAY-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
ALPHARETTA, Ga., May 9 /PRNewswire-FirstCall/ -- Neenah Paper, Inc. today announced it signed a definitive agreement with Wagner Forest Management Limited to sell approximately 500,000 acres of timberlands in Nova Scotia for $140 million, subject to normal closing conditions. Net after-tax cash proceeds from the transaction are estimated to be approximately $120 million and would be received at closing, which is expected to occur by early in the third quarter. The transaction would result in an after-tax gain of approximately $80 million. Timing of the gain recognition is currently being evaluated.

Sale of these timberlands is consistent with Neenah Paper's previously...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from PR Newswire
Foundry Networks(TM) Files Form 10-Q., May 09, 2006
New Era of Automotive Journalism Begins With Launch of Winding Road Di..., May 09, 2006
FelCor's FFO Per Share Increases 104%., May 09, 2006
VIVUS to Host Conference Call & Webcast on Wednesday, May 10th., May 09, 2006
The Organization of MISO States Meets on Electricity Resource Adequacy..., May 09, 2006

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.