Key Developments: Resolute Forest Products Inc (RFP.N)
Latest Key Developments (Source: Significant Developments)
Resolute Forest Products Inc:Says it will close a specialty paper machine at its mill in Alma, Que., in a move that will see the loss of about 85 jobs - The Canadian Press.The company says the closure of the paper machine at the mill represents a reduction of 75,000 metric tons of annual capacity.Says it will work with union representatives and government to help the affected employees who may have the opportunity to transfer to other company operations.The company blamed the decision on a weak market, exacerbated by fibre cost issues in Quebec, as well as campaigns by environmental activist groups including Greenpeace. Full Article
Resolute Forest Products Inc:Announced the permanent closure of its Laurentide paper mill in Shawinigan, Quebec.Says the restart of a competitor's mill at the end of 2012, the high cost of fiber, as well as higher transportation and fuel costs, have affected the mill's competitiveness. Full Article
Mercer International Inc and Resolute Forest Products Inc launches research and development Biomaterial Joint Venture
Resolute Forest Products Inc:Launches new research and development joint venture, Performance BioFilaments Inc. Jointly owned with Mercer International Inc., Performance BioFilaments will work to develop commercial applications for cellulose filaments.Says new source of sustainable biomaterial made from wood fiber that can improve the strength and durability of many commercial and consumer products found on the market today. Full Article
Resolute Forest Products Inc:Says Permanent closure of previously idled pulp and paper mill in Fort Frances, Ontario. Full Article
Oct 30 - Canada's Resolute Forest Products Inc posted a much smaller quarterly loss, as the forest product maker's results in the same period a year ago were hurt by a non-recurring $619 million income-tax charge.