P.M. BRIEFING : Abitibi to Sell U.S. Building Division
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TORONTO — Forest products company Abitibi-Price Inc. said today it intends to sell its U.S. building products division, worth an estimated $100 million.
The U.S. division, Abitibi-Price Corp. of Troy, Mich., oversees six manufacturing plants in Indiana, Kansas, Michigan, North Carolina and Ohio.
John Johnson, an analyst with Richardson Greenshields of Canada in Toronto, said the sale was a “strategic move” and that a probable buyer could be a competitor, either American or offshore, already in the building supply business.
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