MISSISSAUGA, Ontario, Nov. 20, 2018 (GLOBE NEWSWIRE) -- KP Tissue Inc. (KPT) (TSX: KPT) announced today that it has received written notice from Kruger Inc. (Kruger) indicating Kruger’s intention to increase its participation in the distribution reinvestment plan of Kruger Products L.P. (KPLP) from 50% to 75% of the distribution payable to Kruger pursuant to the upcoming KPLP distribution scheduled for January 15, 2019.
KPLP’s distribution reinvestment plan permits unitholders to elect to receive distributions of KPLP payable to them in additional KPLP units (KPLP Units) at a price per KPLP Unit equal to the 5-day weighted average trading price of KPT’s common shares prior to the date of payment of the distribution.
About KP Tissue Inc. (KPT)
KPT was created to acquire, and its business is limited to holding, a limited partnership interest in KPLP, which is accounted for as an investment on the equity basis. KPT currently holds a 15.8% interest in KPLP. For more information visit www.kptissueinc.com.
About Kruger Products L.P. (KPLP)
KPLP is Canada's leading manufacturer of quality tissue products for household, industrial and commercial use. KPLP serves the Canadian consumer market with such well-known brands as Cashmere®, Purex®, SpongeTowels®, Scotties® and White Swan®. In the U.S., KPLP manufactures the White Cloud® brand, as well as many private label products. The Away-From-Home division manufactures and distributes high-quality, cost-effective product solutions to a wide range of commercial and public entities. KPLP has approximately 2,500 employees and operates eight FSC® COC-certified (FSC® C-104904) production facilities in North America. For more information visit www.krugerproducts.ca.
General Counsel and Corporate Secretary
KP Tissue Inc.
Director of Investor Relations
KP Tissue Inc.