AbitibiBowater Plans to Invest in its Iroquois Falls Paper Mill
“The investments announced today are consistent with AbitibiBowater’s overall strategy of achieving greater efficiency in its existing mills and building on proven competencies,” stated Richard Garneau, president and CEO. “Newsprint remains an important component of our business. While market and economic conditions remain challenging, the Company will invest where there is a good resource base, a strong workforce and a receptive investment climate. The investments announced today reflect our view that the Iroquois Falls mill and its employees are worthy of our confidence and that Ontario is a good place to invest.”
AbitibiBowater is a global leader in the forest products industry, producing a diverse range of products, including newsprint, commercial printing papers, market pulp and wood products. The Company owns or operates 18 pulp and paper mills and 24 wood products facilities located in the United States, Canada and South Korea. Marketing its products in close to 90 countries, AbitibiBowater also has third-party certified 100 percent of its managed woodlands to sustainable forest management standards. The Company’s shares trade under the stock symbol ABH on both the New York Stock Exchange and the Toronto Stock Exchange.