UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
April 15, 2016
(Date of Report/Date of earliest event reported)
DOMTAR CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE | 001-33164 | 20-5901152 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
234 Kingsley Park Drive
Fort Mill, SC 29715
(Address and zip code of principal executive offices)
(803) 802-4500
(Registrants telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 8.01 | Other Events |
On April 15, 2016, Domtar Corporation, (the Company) issued a news release providing a business update. A copy of the Companys news release is attached hereto as Exhibit 99.1.
ITEM 9.01 | Financial Statements and Exhibits |
(d) | Exhibits |
Exhibits 99.1: | News release dated April 15, 2016. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DOMTAR CORPORATION | ||||
(Registrant) | ||||
By: | /s/ Razvan L. Theodoru | |||
Name: | Razvan L. Theodoru | |||
Title: | Vice-President, | |||
Corporate Law and Secretary | ||||
Date: | April 15, 2016 |
EXHIBIT 99.1
|
234 Kingsley Park Drive Fort Mill, South Carolina 29715 |
News Release
TICKER SYMBOL |
INVESTOR RELATIONS | MEDIA RELATIONS | ||
(NYSE: UFS) (TSX: UFS) |
Nicholas Estrela Director Investor Relations Tel.: 514-848-5555 x 85979 |
David Struhs Vice-President Corporate Services and Sustainability Tel.: 803-802-8031 |
DOMTAR PROVIDES BUSINESS UPDATE
(All financial information is in U.S. dollars, unless otherwise noted.)
Fort Mill, April 15, 2016 Domtar Corporation (NYSE: UFS) (TSX: UFS) today provided an update on its financial performance for the first quarter of 2016. Domtars management expects sales to be $1,287 million and estimates the operating profit to be between $16 and $19 million. EBITDA before items1 will be between $128 and $131 million.
Estimated operating profit in the first quarter of 2016 includes an impairment of property, plant and equipment of $21 million, closure and restructuring costs of $2 million and depreciation and amortization of $89 million. Adjusting estimated operating profit for these three amounts yields EBITDA before items1.
We had extensive planned maintenance outages across our mill network in the first quarter. Within the shutdowns, we came across a number of unexpected issues that resulted in longer than anticipated outages, leading to higher planned maintenance and related costs, said John D. Williams, President and Chief Executive Officer. Nonetheless, the issues were mostly related to specific incidents and they are now behind us.
Domtar Corporation (NYSE: UFS) (TSX: UFS) will release its first quarter 2016 financial results before markets open on Thursday, April 28, 2016. A conference call will be held to discuss the results at 10:00 a.m. (ET). Financial analysts are invited to participate in the call by dialing 1-800-499-4035 (North America) or 1-416-204-9269 (International). Media and other interested individuals are invited to listen to the live webcast at www.domtar.com.
1 | Non-GAAP financial measure. EBITDA before items is presented as a complement to enhance the understanding of operating results but not in substitution for GAAP results. |
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About Domtar
Domtar is a leading provider of a wide variety of fiber-based products including communication, specialty and packaging papers, market pulp and absorbent hygiene products. With approximately 9,850 employees serving more than 50 countries around the world, Domtar is driven by a commitment to turn sustainable wood fiber into useful products that people rely on every day. Domtars annual sales are approximately $5.3 billion and its common stock is traded on the New York and Toronto Stock Exchanges. Domtars principal executive office is in Fort Mill, South Carolina. To learn more, visit www.domtar.com.
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