Pulp and Paper Canada

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AbitibiBowater Sells Korean Mill


May 8, 2008
By Pulp & Paper Canada

AbitibiBowater is divesting $250 million worth of assets in an attempt to improve its balance sheets and mitigate a…

AbitibiBowater is divesting $250 million worth of assets in an attempt to improve its balance sheets and mitigate a first quarter loss of $248 million.

According to a recent report by the Globe and Mail, the company has put a South Korean paper mill up for sale. The company confirmed on May 8 that it plans to shed a total of $500 million in assets by the end of the year.

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The Globe further reported that in addition to the Korean facility, AbitibiBowater is seeking to sell off forestlands, sawmills, hydroelectric sites and other assets.


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