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Snowflake generated negative EBITDA since 2009. The closure of the mill is expected to result in savings of annualized selling, general and administrative expenses and avoid future operating losses associated with Snowflake. Catalyst recorded a $161.8 million asset impairment charge, required under GAAP, in the latter half of 2011. The closure will result in some initial cash costs, which are expected to be recouped from working capital and the sale of Snowflake mill assets in 2013.
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