The Canadian pulp and paper industry is set to suffer yet another blow with Abitibi Consolidated preparing to slash…
The Canadian pulp and paper industry is set to suffer yet another blow with Abitibi Consolidated preparing to slash its paper operations in Ontario and Newfoundland. After much deliberation, the company has announced that it will permanently close its mills in Stephenville and Kenora and that operations at its facility in Grand Falls-Windsor will be severely retrenched.
According to the CBC, the Stephenville and Kenora mills will close in October and one of the two paper machines at Grand Falls-Windsor will shut down. Roughly 280 people work at the Stephenville mill.
The decision to cut back operations comes just as the company released its second quarter results, which saw the posting of a loss of $43 million.
The CBC further reported that Premier Danny Williams has threatened to revoke timber licenses for Crown land if the company carries through with its plans in Grand Falls-Windsor.
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