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Corner Brook employees approve Kruger pension relief plan

Active and retired unionized employees of Corner Brook Pulp and Paper have approved Kruger’s proposal to apply funding relief measures to their pension plan’s deficit. According to Kruger, these relief measures were essential to the…

Active and retired unionized employees of Corner Brook Pulp and Paper have approved Kruger’s proposal to apply funding relief measures to their pension plan’s deficit. According to Kruger, these relief measures were essential to the mill’s ability to compete in the market and will enable the company to pursue its assessment of the mill’s long-term viability.

Unionized employees had voted against the funding relief measures earlier this year.

The next step is for Kruger to present a sustainability plan to its lenders and to the Newfoundland government within the coming weeks.

Kruger Inc. is a major producer of publication papers, tissue, lumber and other wood products, corrugated cartons from recycled fibres, green and renewable energy and wines and spirits.