MONTRÉAL, March 10, 2017
/PRNewswire/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP)
today announced the indefinite idling of its paper mill located in
Thorold, Ontario. The facility,
which employed over 100 workers, has an annual production capacity
of approximately 197,000 metric tons of newsprint on one machine
using 100 percent recycled furnish.
The difficult decision to proceed with the indefinite idling is
driven by the ongoing significant decline in North American
newsprint consumption, coupled with the increasing cost of
recovered paper. The company had already been taking downtime at
the operation since mid-December
2016.
Resolute is collaborating with Stone House Investments Holdings
Inc., an independent third party interested in converting
Thorold to production of an
alternative product. Resolute recognizes the impact of today's
announcement and believes conversion of the mill would provide a
more sustainable future for the operation, its workforce and the
surrounding community.
The company remains committed to customer service and delivery
of high-quality products, and is working closely with customers to
ensure a smooth transition.
The indefinite idling of the paper mill is effective
immediately.
About Resolute Forest Products
Resolute Forest
Products is a global leader in the forest products industry with a
diverse range of products, including market pulp, tissue, wood
products, newsprint and specialty papers, which are marketed in
over 70 countries. The company owns or operates some 40
manufacturing facilities, as well as power generation assets, in
the United States and Canada. Resolute has third-party certified
100% of its managed woodlands to internationally recognized
sustainable forest management standards. The shares of Resolute
Forest Products trade under the stock symbol RFP on both the New
York Stock Exchange and the Toronto Stock Exchange.
Resolute has received regional, North American and global
recognition for its leadership in corporate social responsibility
and sustainable development, as well as for its business practices.
Visit www.resolutefp.com for more information.
SOURCE Resolute Forest Products Inc.