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May 9, 2014
08:32 EDTRFPResolute Forest agrees in principle to renew collective agreements in Canada
Resolute Forest announced that an agreement in principle has been reached between Unifor and the Corporation. The agreement in principle must be submitted to the members of the union for ratification and provides for the collective agreement to be renewed for four years. The master agreement covers eleven of Resolute's Canadian pulp and paper mills. The collective agreement covers approximately 2,000 employees represented by Unifor. The agreement in principle provides for wage increases in each of the four years and continues the partnership with the union on efficiency and employee safety.
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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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