History

Originally, Abitibi-Consolidated was formed by the merger of Abitibi-Price and Stone-Consolidated on May 29th, 1997. Both companies were premier, Canadian-based, forest product companies. Both were looking for an opportunity to become a global company. Both found an equal partner with which to grow. The deal was approved by over 99% of the companies' shareholders, creating the world's largest producer of newsprint and uncoated groundwood paper.

In 1998, Abitibi-Consolidated formed a joint-venture partnership with Norske Skog of Norway and Hansol Paper Co. of South Korea. The resulting partnership is the world's leading newsprint and groundwood paper company in the Asian-Pacific region.

On April 18th, 2000, Abitibi-Consolidated acquired approximately 96% of the Class A Subordinated Voting Shares and approximately 92% of the Class B Shares of Donohue Inc., a major Canadian integrated forest products company engaged in forest management and in the manufacture and sale of newsprint, specialty papers, market pulp and wood products with mills located in Québec, Ontario, British Columbia and Texas.

On August 16th, 2002, Abitibi-Consolidated increased its stake in Pan Asia Paper Company Pte Ltd. from 33.3% to 50%.

On November 17, 2005, Abitibi-Consolidated completed the sale of its 50% share ownership in Pan Asia Paper Company Pte Ltd. to Norske Skog.