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Fraser Inc. - Finance - Dissenting Shareholders Legal Action
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- Fraser Inc.
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1 cm of textual records
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Name of creator
Fraser Companies Ltd. was a pulp, paper and lumber producer with operations in New Brunswick and Maine.
In April 1974, Noranda, through its subsidiary Northwood Mills, made a successful public offer to acquire 51% of the shares of Fraser Companies, Ltd.
After this acquisition, Fraser Inc. modernized and extended its the bisulphite plant (1976-1979), renovated its the paperboard mill (1988), and the installed high pressure steam pipelines linking the Edmundston pulp mill to Fraser Paper of Madawaska, Maine (1981-1982). The goal of these improvements was to increase production, reduce costs, conform to the new environment protection standards, and an increased ability to compete on the North American markets.
In addition to the Edmundston and Madawaska mills, Fraser Inc. owned mills in Atholville, Kedgwick, Plaster Rock and Thorold, Ontario. The company managed more than 1.8 millions acres of woodland concessions.
In May 1987, Fraser Inc. was amalgamated into Noranda Forest Inc.
Royal Commission on Corporate Concentration, Noranda Mines Limited: A Corporate Background Report. 1976. p. 94-95.
Name of creator
Adam Hartley Zimmerman, O.C., B.A., F.C.A. (1927 - 2016 ) was born in Toronto. From 1930 to 1941 he lived with his family in Youngstown and Niagara Falls, New York while his father worked with the Moore Corporation as a mining engineer. Adam moved back to Ontario to complete junior high school and attended Upper Canada College from 1938-40, Ridley College from 1940-44, the Royal Canadian Naval College 1944-46, and Trinity College, University of Toronto, 1946-50. He received a Bachelor of Arts degree in General Arts with a major in Philosophy in 1950. He also served six years in the Royal Canadian Naval Reserve rising to the ranks of lieutenant.
After graduation and a brief term with Proctor Gamble, Zimmerman decided to join Clarkson Gordon (now Ernst & Young), as a student-in-accounts from 1950-54; received his CA and worked as a Chartered Accountant (1956) and Audit Supervisor, 1956-58. Mr. Zimerman then joined Noranda Inc. first serving as an Assistant Comptroller at Noranda Mines (1958-61), and then Comptroller (1961-1966). He subsequently became Vice President and Comptroller (1966-1974), Executive Vice President (1974-1982), President and CEO (1982-87), Vice Chairman of Noranda Inc. (1987-1992), as well as CEO, Noranda Forest Inc. (1987-1991), Chairman (1987-1993), and Director (1987-1994), as well as Chairman (1983-1990) and Vice Chairman (1990-1993) of MacMillan Bloedel after it was acquired by Noranda Forests Inc. Zimmerman also served as an independent director of Algoma Steel and as a foreign director at Royal Dutch Paper Mills (when MB was a dominant shareholder). Zimmerman retired from Noranda Inc. in 1994.
Mr. Zimmerman has served on over 40 private and public sector boards throughout his career including directorships on the following Northwood Pulp and Timber Ltd.; Confederation Life Insurance Co.; The Toronto Dominion Bank; Battery Technologies Inc.; Economic Investment Trust; Maple Leaf Foods Inc.; The Pittston Co.; Southam Inc; and Hydro One (2002- ). He has had had many professional affiliations during his career including with: C.D. Howe Institute (Former Chairman & Dir.); Institute of Chartered Accountants of Ontario (Fellow); Canadian Pulp & Paper Association (former Chairman); Canadian Forest Industries Council (former Chairman); University of Toronto, Faculty of Forestry (Advisory Board.); The Hospital for Sick Children (Honorary Trustee); The Hospital for Sick Children Foundation (Director); Roy Thomson Hall (Director); World Wildlife Fund Canada (Executive Committee); Zeta Psi; York Club; Toronto Golf Club; Craigleith Ski Club; Madawaska Club.
Publications: Who’s in Charge Here, Anyway?: reflections from a life in business, (Don Mills, Ontario: Stoddart; Distributed in Canada by General Distribution Services), 1997.
HONOURS: Distinguished Business Alumni Award, Univ. of Toronto, 1992; LL.D. (Hon), Royal Roads Military College; D.S.L., Trinity University, Toronto. Member of the University of Toronto, Faculty of Forestry; a Fellow of the Institute of Chartered Accountants of Ontario; Past Chairman, Canadian American Committee; and board positions with the Mining Association of Canada; Canadian Forest Industries Council; Canadian Pulp and Paper Association and with Zeta Psi.
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File contains correspondence and reports regarding dissenting shareholder legal action against Fraser Paper.
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- Noranda Inc. (Subject)