What does FBK mean in TORONTO STOCK EXCHANGE
FBK is an abbreviation for Fibrek Incorporated, a company that was formerly listed publicly on the Toronto Stock Exchange. The company produces and distributes newsprint, market pulp, specialty paper products and wood fibre resources from its three sites in Canada and the United States. The firm was founded in 2004 originally as AbibitiBowater Inc., following a merger between two leading forestry companies Abitibi-Consolidated Inc. and Bowater Canada Inc., before being renamed Fibrek in 2009. Since 2014, it has been de-listed after being acquired by Resolute Forest Products Inc.
FBK meaning in Toronto Stock Exchange in Business
FBK mostly used in an acronym Toronto Stock Exchange in Category Business that means Fibrek Incorporated (de-listed)
Shorthand: FBK,
Full Form: Fibrek Incorporated (de-listed)
For more information of "Fibrek Incorporated (de-listed)", see the section below.
What FBK stands for
FBK stands for Fibrek Incorporated, a former publicly traded company that produced and distributed newsprint, market pulp, specialty paper products and wood fibre resources from its three sites in Canada and the United States.
History of FBK
Fibrek Incorporated began as a merger between two leading forestry companies – Abitibi-Consolidated Inc. and Bowater Canada Inc., both of which had existed since the early 20th century. In 2004 the two companies merged to form AbibitiBowater Inc., though the newly formed entity was renamed Fibrek later in 2009 before making its debut on the TSX Venture Exchange in 2011. The following year it made an agreement with Tembec to purchase their kraft pulp facility located near Gatineau in Quebec, increasing Fibrek’s production by nearly 30%. In 2014 however, Fibrek announced that they would be de-listed from the exchange after being purchased by Resolute Forest Products for CAD $1.65B (US $1.5B).
Essential Questions and Answers on Fibrek Incorporated (de-listed) in "BUSINESS»TSX"
What is Fibrek Incorporated?
Fibrek Incorporated was a publicly traded Canadian pulp and paper company. It was based in Montreal, Quebec and had operations in Ontario, Quebec, and the United States. The company specialized in the manufacturing of softwood market pulp and fine paper products.
When Was Fibrek Incorporated Founded?
Fibrek Incorporated was founded in 1924 as a small mill located near Shawinigan, Quebec. It was initially called Shawinigan Associates, then Shawinigan Chemicals, then Metsa-Veitsiluoto Canada Ltd before settling on its current name of Fibrek Incorporated in 1975.
Who Was the CEO of Fibrek Inc.?
The first CEO of Fibrek Inc., was Mr. Aaro Kalliola who served from 1975 to 1977. The second CEO from 1977 to 1991 was Mr. Juhani Eskola and the third CEO from 1991 to 1998 was Mr. Yrjö Konttinen.
How Did Fibrek Operate?
From its founding until 1993, Fibrek operated as an integrated company with logging rights, sawmills, pulp & paper mills and forest products marketing teams. In 1993, it sold off its forestry division and focused instead on becoming a global supplier of softwood Kraft Pulp products as well as Fine Paper Products.
When Did Fibrek Become Publicly Traded?
After operating for nearly 70 years as a private company under family ownership, Fibrek went public on June 13th 1994 trading under the symbol FBK on the Toronto Stock Exchange (TSX). However it de-listed on May 1st 2018 after being acquired by Mercer International Inc.
What Was Fibrek's Relationship with Mercer International?
In April 2018 Mercer International acquired all of the issued and outstanding common shares of FBK for $1 per share in cash each plus interest calculated at 1/2 % per month since March 24th 2017. This brought an end to FBK's TSX listing after 24 years.
Who Owns/Owned what Remains/Remained Of FBK?
After it’s buyout by Mercer International any remaining assets or liabilities not specifically assumed by Mercer were transferred into a new entity controlled by certain members of former senior management who owned or previously had control over these parts before the buyout.
What Happened To The Money Investors Placed In FBK?
All investors that held shares of FCB prior to April 16th 2018 when it became effective date obtained payment from Mercer International for their shares at $1 per share plus any accrued but unpaid dividends up until this date.
Are There Any Other Benefits That Shareholders Of FBK Obtained After Its De-listing From TSX?
Yes! Shareholders who held more than 500 common shares were entitled to receive post termination awards if they submitted claim forms prior to October 16th 2018.
Final Words:
FBK is an abbreviation for Fibrek Incorporated, a former publicly traded company that produced and distributed newsprint, market pulp, specialty paper products and wood fibre resources from its three sites in Canada and the United States until its de-listing in 2014 due to its acquisition by Resolute Forest Products Inc.. Over its lifetime prior to this acquisition however, it has grown significantly through mergers with more established industry players such as Abitibi-Consolidated Inc., Bowater Canada Ltd., Tembec Industries Ltd..
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