Madam Speaker, a media investigation is raising serious questions about the pulp and paper giant Paper Excellence. The Minister of Innovation, Science and Industry must come clean with what he knows about this company. He rubber-stamped its takeover of Resolute Forest Products, making it the largest pulp and paper company in Canada. It controls over 22 million hectares of Canadian forests. That is larger than the province of Nova Scotia.
What kind of financing did Paper Excellence receive from a state-owned Chinese bank? What is the connection of Paper Excellence to the Asia Pulp & Paper company? What does the minister know about media allegations of price collusion between these two companies? Is this company being run from Canada or Shanghai?
The takeover of Canadian forest companies by Paper Excellence has been called a “fibre grab” to use Canadian trees to feed Chinese pulp mills. The Minister of Innovation must explain what due diligence was done in turning over such huge tracts of Canada's forests to this company.