Abitibi-Consolidated, Bowater Join Forces

GREENVILLE, SC—Abitibi-Consolidated of Montreal and Bowater Inc., based here, have agreed to combine in an all-stock merger of equals. The company will be called AbitibiBowater and will boast annual revenues of approximately U.S.$7.9 billion.

The deal makes AbitibiBowater, which will have a leading position among publication papers producers, the third largest publicly-traded paper and forest products company in North America.