Bowater Inc.
terminated negotiations with Sepoong Corp. and its major creditor, Chohung
Bank, to acquire the Sepoong paper mill located in South Korea. Bowater noted
that there were unacceptable delays in satisfying certain conditions
contemplated when the parties signed the previously announced preliminary
letter of intent this past September.
In 1998, Bowater
acquired the Halla newsprint mill in South Korea, which has about 265,000
metric tons of recycled newsprint capacity.
Explore the January 2001 Issue
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