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Domtar Closes Transaction with Weyerhaeuser Creating North American Fine Paper Company
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Montreal, Quebec, Canada, 07 March 2007 -- /PRNewswire/ -- Domtar Inc. announced today the completion of the previously announced transaction to combine with Weyerhaeuser Company's Fine Paper business and related assets, creating Domtar Corporation.

Domtar Corporation is the largest manufacturer and marketer of uncoated freesheet paper and a leading manufacturer of market pulp in North America. The company's head office is located in Montreal, and its operations center is in Fort Mill, South Carolina, USA.

"With a strong team of nearly 14,000 employees dedicated to creating value for customers and shareholders, a world-class manufacturing capability and a solid financial position, Domtar becomes the North American leader in the fine paper business," said Raymond Royer, president and chief executive officer of Domtar Corporation.

Marvin Cooper, executive vice president and chief operating officer, added "Domtar is built on a solid foundation of rigorous leadership, established brands, and recognized service solutions. We will focus our efforts on meeting the needs of customers and ensuring a quick and seamless transition to the new organization. Also, with an experienced management team with proven integration expertise, we will review all our operations to determine how best to execute the synergies resulting from the transaction."

Trading

Commencing today, Domtar Corporation common stock will be traded on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol "UFS." Also, exchangeable shares of Domtar (Canada) Paper Inc. will be traded on the Toronto Stock Exchange under the ticker symbol "UFX." As a result of the transaction, the common shares of Domtar Inc. traded under the ticker symbol "DTC," have been delisted from both exchanges while preferred shares of Domtar Inc. will continue to be traded on the Toronto Stock Exchange.

The New Company

The backbone of the new company consists of six highly efficient world-class uncoated freesheet mills that provide two-thirds of its nearly 5 million tons of annual capacity. These mills, combined with a solid mix of specialty facilities, make the new company one of the most efficient and cost-competitive paper companies in North America. The company has broad North American reach and a wide range of well-known business and commercial printing paper brands. With its access to volume, depth of product offerings, and service through a wide geographic footprint, the company is in a position to meet the needs of large and small customers alike throughout the United States and Canada. It will maintain environmental leadership, notably by expanding its environmentally and socially responsible papers such as the Domtar EarthChoice(R) product line.

Domtar Corporation

Domtar Corporation (NYSE/TSX: UFS) is the largest integrated producer of uncoated freesheet paper and one of the largest manufacturers of papergrade market pulp in North America. The company designs, manufactures, markets, and distributes a wide range of business, commercial printing, publication, technical, and specialty papers, as well as its full line of environmentally and socially responsible papers. Domtar owns and operates Domtar Distribution Group, an extensive network of strategically-located paper distribution facilities. Domtar also produces lumber and other specialty and industrial wood products. The company employs nearly 14,000 people. To learn more, visit www.domtar.com.

Source: Domtar Inc.



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