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November 20, 2012
15:32 EDTRFPResolute Forest announces indefinite idling of kraft mill, paper machine
Resolute Forest Products announced the indefinite idling of the kraft mill and paper machine number 5 at its pulp and paper operation in Fort Frances, Ontario. The kraft mill has an annual production capacity of approximately 200,000 metric tons of market pulp, while PM5 has an annual capacity of 105,000 metric tons of groundwood specialty printing papers. Resolute is exploring alternative product possibilities for its Fort Frances pulp mill, which will be idled in a manner that will protect the equipment. The idling of PM5 is driven by the decrease in consumption as well as the high value of the Canadian dollar. The running down of fiber inventories and orderly shutdown of the Fort Frances kraft mill is expected to be completed by late November. PM5 will also continue to operate until late November. Approximately 239 employees will be impacted by the idling, the company said.
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October 30, 2014
07:52 EDTRFPResolute Forest says outlook turned to cautious optimism
The company said, "The pulp market continues to adjust to major hardwood pulp capacity increases, but our outlook has turned to cautious optimism, based on the market's resilience this year. Turning to paper, the pace of price declines in coated mechanical and supercalender grades is leveling off; we're hopeful that recent industry capacity rationalization announcements will help to ease some of the pressure the industry experienced this year as a result of lower operating rates. In newsprint, recent demand trends are forcing us to respond with targeted market downtime initiatives, particularly at some of our Québec mills struggling with high wood costs and wood availability issues resulting from the implementation of the new forest tenure system. We remain confident that our operating platform has the scale, financial strength and cost advantage to withstand market challenges."
07:52 EDTRFPResolute Forest expects Ignace sawmill to ramp up before year end
Resolute Forest expects Ignace sawmill to begin ramp-up before year-end, to build its production and inventory gradually in the first quarter and to continue to improve production efficiency over the course of the year. The high capacity planer mill at the new Atikokan sawmill will start to dress Ignace's lumber in the first quarter, with the ramp-up of its own sawline scheduled to begin in the second quarter. Resolute Forest expects these sawmills to start generating positive earnings as early as the third quarter of next year.
07:51 EDTRFPResolute Forest reports Q3 EPS excl. items 18c, consensus 25c
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