Pulp and Paper Canada

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Softwood refunds


November 20, 2006
By Pulp & Paper Canada

Softwood lumber duty deposits are starting to roll in.

Softwood lumber duty deposits are starting to roll in.

Abitibi-Consolidated has confirmed receipt of U.S. $225 million, money that was transmitted to the company through Export Development Corporation of Canada. Over the next few weeks, Abitibi should additionally receive roughly U.S. $10 million, money associated with business partnerships.

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Pope & Talbot also received the money it was owed, a total of $127.5 million.

Both companies have said they are content to have the situation resolved.

“We are pleased to have the contentious softwood lumber dispute behind us,” Abitibi president and CEO John Weaver said.

The company plans to use the capital to pay down debt. Pope & Talbot will direct its refund to reduce term borrowings, principal prepayments and liquidity demands


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