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Domtar Corp., one of the largest manufacturers and distributors of paper in North America, has signed, through its operating subsidiaries, an agreement to acquire Xerox Corp.’s paper and print media products business in the United States and Canada.
While Xerox does not manufacture paper, the company has long distributed through its brand name coated and uncoated papers and specialty print media, including business forms as well as carbonless and wide-format paper.
If the deal is completed, the business will become part of Domtar's pulp and paper segment, and Montreal-based Domtar will market and distribute Xerox-branded paper and print media.
The acquisition will affect some 75 Xerox employees in the United States and Canada; Xerox would not break down where those workers are located.
The transaction is expected to close in the second quarter. Financial terms were not disclosed.
"As Xerox broadens its business to focus more on services and innovative document technology, we saw an opportunity for our paper business clients to be better served by a leader in the industry," said Frank Edmonds, senior vice president, Xerox Global Paper and Supplies Distribution Group, in a statement.
Xerox will continue to manufacture, sell and support its consumables, such as toner and ink, and Xerox replacement cartridges, the company said.
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