Pulp-Paperworld.com / Canadian News

Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) has just announced a $52.3 million strategic investment plan for its Saint-Félicien pulp mill, located in the Lac-Saint-Jean region of Quebec. The announcement was made at a press conference attended by Quebec Premier Philippe Couillard, and many dignitaries and company employees.

abiti122011"The significant investments at Saint-Félicien are expected to improve several areas of the operation, increasing the average daily production capacity by 76 metric tons and reducing greenhouse gas emissions from the use of fossil fuels by 20%," said Yves Laflamme, president and chief executive officer.

On April 30, 2018, Resolute announced a $13 million investment in its La Doré (Quebec) wood products facilities, also located in Lac-Saint-Jean. In 2016, the company inaugurated Toundra Greenhouse, located adjacent to the Saint-Félicien pulp mill, a $100 million joint venture project with local investors.

During today's press conference, Yves Laflamme thanked local employees, government officials, as well as regional academic and economic development organizations for their continued support and advocacy.

Resolute employs close to 240 workers at the pulp mill, and more than 2,000 in the Saguenay–Lac-Saint-Jean region.

The upgrades are expected to be completed by the end of 2019.

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    About Resolute Forest Products

    Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers, which are marketed in close to 70 countries. The company owns or operates some 40 manufacturing facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.

    Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.

    SOURCE Resolute Forest Products Inc.

Published in Canadian News

Resolute Forest Products Inc. has just announced major investments totaling $12,956,700 in its La Doré wood products facilities, located in the Lac-Saint-Jean region of Quebec. The announcement was made during a press conference attended by Quebec Premier Philippe Couillard, as well as dignitaries and company employees.

abiti122011The investments will be used to integrate new technologies into the manufacturing processes in order to sustain the facilities' continuously enhanced performance in an ever-changing competitive environment. Also through these investments, energy efficiency will be improved as operational processes are modernized.

"This is a significant investment for the future of our La Doré facilities," said Yves Laflamme, president and chief executive officer. "We can count on innovation, regional solidarity and the pride our people have in their work to overcome the challenges facing our industry."

Mr. Laflamme also mentioned the efforts of workers, elected representatives and governments, as well as regional economic, education and development organizations, to improve future prospects in the forest products industry.

Resolute employs close to 250 people at the La Doré sawmill, planer mill and finger-jointing facility, and more than 2,000 in the Saguenay–Lac-Saint-Jean region.

The investments announced today involve upgrades to several areas of the operations:

"We will rebuild the infeed section of the sawmill and add multiple programmable logic controllers, allowing the potential of each log to be better identified, used appropriately and optimally cut," explained Gilbert Demers, division vice president, Wood Products – Sawmills and Engineering. "We are also initiating the launch of a new lumber packaging system in the planer mill, using prototypes developed by manufacturers from the region. Finally, we are completing the project by adding two new electric boilers in order to generate the quantity of steam required for drying."

Additional Info

  • About

    About Resolute Forest Products

    Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers, which are marketed in close to 70 countries. The company owns or operates some 40 manufacturing facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.

    Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.

    SOURCE Resolute Forest Products Inc.

Published in Canadian News

Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) announced that a tentative four-year agreement has been reached with Unifor, subject to ratification by their members. Unifor represents the majority of hourly employees working across the company's Canadian pulp and paper operations.

abiti122011The master agreement covers eight of Resolute's Canadian pulp and paper mills. The agreement applies to the Amos, Baie-Comeau, Dolbeau, Gatineau, Kénogami and Saint-Félicien facilities in Quebec, as well as the Thunder Bay mill and currently indefinitely idled Thorold operation in Ontario.

"We are pleased that we have reached a tentative agreement with Unifor national and local leadership that recognizes the contribution of employees to the success of the business and provides stability for our customers, shareholders, communities and other company partners," said Yves Laflamme, president and chief executive officer. "Once ratified, this agreement will support long-term investments in our Canadian operations."

The collective agreement covers approximately 1,100 employees represented by Unifor. The agreement builds on the cooperative relationship that has been established between Resolute and Unifor.

Details will not be discussed publicly until the union leadership has had an opportunity to present the agreement to its members.

About Resolute Forest Products

Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers, which are marketed in close to 70 countries. The company owns or operates some 40 manufacturing facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.

Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.

SOURCE Resolute Forest Products Inc.

Published in Canadian News

Resolute Forest Products Inc. has just announced the selection and appointment of Yves Laflamme as Resolute's new president and chief executive officer, and a member of the Board of Directors, succeeding Richard Garneau. The announcement of Mr. Garneau's retirement today coincides with the announcement of the company's fourth quarter and 2017 annual results.

2018 02 02 100952"The Resolute Board of Directors enthusiastically supports Yves Laflamme's selection, recognizing his good judgment and strong business acumen. Yves has a strong reputation in the industry, a well-refined focus on costs, and built teams that consistently deliver results. There is no better person to lead Resolute into the future," stated Bradley P. Martin, chairman of the Board of Directors. "The choice of an internal candidate to succeed Richard Garneau is a credit to the internal talent developed by the company. Yves' appointment is also a reaffirmation of our strategic direction."

Under Mr. Garneau's leadership, Resolute established a competitive cost structure and diversified asset base, a conservative capital structure and a sustainable business strategy. His unwavering commitment to a safe workplace and environmental stewardship has earned North American and global recognition.

In expressing its appreciation to Mr. Garneau, the Board of Directors recognize his dedication, strength of purpose and personal integrity. "Resolute is a stronger, more dynamic and far more sustainable company today following Richard's seven-year tenure as president and CEO," added Mr. Martin. "Richard personified courageous leadership, not only tackling complex issues but also challenging the status quo. Richard above all else is a man of his word, and Resolute in turn reflects this transparency and integrity. His principled leadership and insistence on truly sustainable outcomes have set the foundation for shared prosperity."

"I am honored to now lead Resolute as we take our next steps, further defining our collective future. We will build on the positive momentum, and continue to make Resolute a profitable and sustainable company," stated Yves Laflamme. "Richard led by example, exemplified principled leadership, and built upon his knowledge with a commitment to life-long learning. We are very pleased that Richard has agreed to stay on in an advisory capacity working with me on specific mandates."

Mr. Laflamme currently serves as senior vice president, Wood Products, Global Procurement and Information Technology for Resolute. He is a 37-year veteran of the industry, as well as Resolute and its predecessor companies. Mr. Laflamme began his career in Finance working at Donohue Inc.'s Saint-Félicien integrated pulp mill and wood products operations in 1981, and moved on to serve as controller for the company's integrated newsprint and wood products facilities in the Abitibi region of Quebec. Over the past 15 years, he held a series of successive roles as vice president and senior vice president, covering the overall wood products business, including both Operations and Sales, as well as the company's former Recycling business. Over the past several years, Mr. Laflamme expanded his scope to also include a wide range of corporate support functions, including IT and Global Procurement, among others. In addition, he led a number of important mandates for the company, including M&A activity and enterprise resource planning (ERP), and has represented Resolute in major negotiations with governments. Mr. Laflamme currently serves as chairman of Resolute-LP Engineered Wood joint ventures, a Board member of Toundra Greenhouse, an Executive team member of the Quebec Forest Industry Council, and is a past chairman of the Canadian Wood Council. He is a CPA (CMA), after pursuing his university education in administration and finance.   

"Yves has the depth of experience, necessary skill set and track record of success, prerequisites for the top job in this challenging industry environment. Yves is a tireless worker who has never lost sight of his roots. He has high expectations and is fair," said Richard Garneau. "Yves' strong leadership traits have positioned Resolute's wood products business as top tier, and have given the company a competitive edge across business cycles." 

About Resolute Forest Products

Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers, which are marketed in close to 70 countries. The company owns or operates some 40 manufacturing facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.

Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.

SOURCE Resolute Forest Products Inc.

Published in Canadian News

Resolute Forest Products Inc. has just announced the appointment of Patrice Minguez as president of the company's tissue group. This is a new role, reporting to Richard Garneau, president and chief executive officer.

abiti122011Patrice Minguez will serve as a member of Resolute's Executive Team and will oversee all tissue operations as well as sales and marketing functions. This includes the Atlas Tissue operations in Florida and the new state-of-the-art tissue and converting facilities at Calhoun, Tennessee. He will also be accountable for the company's Calhoun pulp and paper mill.

Founder and former president of Cellynne Holdings, Inc., Patrice Minguez built his business from the ground up, ultimately positioning Cellynne as the biggest independent tissue converter in North America. In addition to his extensive background selling both away-from-home and at-home bath tissue and towel, Mr. Minguez led the successful installation and start-up of new tissue machines, and managed multiple production locations.

"Patrice Minguez has a strong reputation in the marketplace and a proven track record of success. His knowledge, experience and entrepreneurial background will strengthen Resolute's presence in the tissue market," stated Richard Garneau. "Patrice will play an important role in the company's ongoing transformation strategy. Under his leadership, we believe our tissue business will be positioned for sustained growth and performance."

This appointment will take effect on August 1, 2017.

About Resolute Forest Products

Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers, which are marketed in over 70 countries. The company owns or operates some 40 manufacturing facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.

Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.

SOURCE Resolute Forest Products Inc.

Published in Canadian News

Resolute Forest Products Inc. is pleased to announce the successful start-up of its new tissue machine in Calhoun (Tennessee). The first tissue parent roll was produced on February 28, 2017.

The machine will continue its scheduled ramp-up through 2017 and is expected to be producing at maximum capacity toward mid-2018. With its fully operational converting facility, converted tissue products sold from Calhoun are now manufactured entirely from parent rolls produced on-site.

2017 03 30 083442

The Calhoun tissue operation, built at Resolute's pulp and paper mill, has the capacity to manufacture 66,000 short tons (60,000 metric tons) annually of premium private-label tissue, including bath and towel, aimed at the at-home market.

With its state-of-the-art machine, three converting lines and integration of pulp from the existing Calhoun pulp mill, this will be one of the most efficient and cost-competitive tissue operations in North America once full production is achieved, positioning Resolute as a key player in this growing market segment.

About Resolute Forest Products

Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers, which are marketed in over 70 countries. The company owns or operates some 40 manufacturing facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.

Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.

Published in North American News

Atlas Tissue is pleased to introduce the Green Heritage® line of recycled tissue products to the at-home market. Atlas Tissue, a business of Resolute Forest Products (NYSE: RFP) (TSX: RFP), is changing the way consumers view recycled products with its Green Heritage premium 100% recycled tissue line that is Soft on you. Easy on the planet.TM 

2017 03 28 071153The Green Heritage brand is designed to offer today’s environmentally conscious consumers a first-in-class product that is additive-free, septic-safe and so much more. Green Heritage is manufactured with recycled pulp from Resolute’s Fairmont (West Virginia) mill. This allows for precise control of the entire production process, ensuring cost-competitiveness and consistent quality, while offering the flexibility and customization customers demand.

“When comparing Green Heritage products to those of our competitors, third-party testing confirmed that our bath tissue is brighter, thicker and stronger than the leading recycled bath tissues on the market,” stated André Piché, senior vice president, Tissue Business Group, for Resolute Forest Products. “We are confident consumers will appreciate the quality and comfort of our new recycled product line.” 

About Atlas Tissue

Atlas Tissue has a manufacturing capacity of 62,000 short tons of tissue across three paper machines and 11 converting lines located in Hialeah (Miami) and Sanford (Orlando), in Florida. It also operates a paper recycling center in Tampa. Atlas Tissue produces branded and private-label products for at-home and away-from-home channels, and offers both virgin and recycled products, covering a wide range of grades. Branded products are marketed under Windsor Place®, Green Heritage®, Bunny Soft®, Harmony® and Eversoft®. Atlas Tissue is the proud recipient of the 2016 Tissue World Mill Award in the Most Energy-Aware Mill category. Visit www.atlastissue.com for more information and learn more about Green Heritage at www.greenheritagetissue.com.

Atlas Tissue is part of Resolute Forest Products Inc., a publicly traded company listed on both the New York Stock Exchange and the Toronto Stock Exchange under the stock symbol RFP.

About Resolute Forest Products

Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers, which are marketed in over 70 countries. The company owns or operates some 40 manufacturing facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. To learn more about Resolute Forest Products, visit www.resolutefp.com.

SOURCE Atlas Tissue

Published in North American News

Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) have just announced the indefinite idling of its paper mill located in Thorold, Ontario. The facility, which employed over 100 workers, has an annual production capacity of approximately 197,000 metric tons of newsprint on one machine using 100 percent recycled furnish.

abiti122011The difficult decision to proceed with the indefinite idling is driven by the ongoing significant decline in North American newsprint consumption, coupled with the increasing cost of recovered paper. The company had already been taking downtime at the operation since mid-December 2016.

Resolute is collaborating with Stone House Investments Holdings Inc., an independent third party interested in converting Thorold to production of an alternative product. Resolute recognizes the impact of today's announcement and believes conversion of the mill would provide a more sustainable future for the operation, its workforce and the surrounding community.

The company remains committed to customer service and delivery of high-quality products, and is working closely with customers to ensure a smooth transition. 

The indefinite idling of the paper mill is effective immediately.

About Resolute Forest Products
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers, which are marketed in over 70 countries. The company owns or operates some 40 manufacturing facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.

Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.

SOURCE Resolute Forest Products Inc.

Published in Canadian News

Resolute Forest Products Inc. President and Chief Executive Officer Richard Garneau has reaffirmed the company's support of free, unencumbered access for softwood lumber exports from Central Canada (Quebec and Ontario) to the United States. Mr. Garneau has been a leading figure in the ongoing softwood lumber dispute between the U.S. and Canada, and draws on over 40 years of experience and leadership in the forest products industry across Canada. 

Resolute is Canada's largest forest products company and the largest producer of softwood lumber east of the Rockies. Richard Garneau has consistently challenged the claims by some that the 2006 Softwood Lumber Agreement between the U.S. and Canada produced predictability and stability. "Managed trade increases volatility, creating an unpredictable and unstable trade environment between two of the world's largest trading partners," stated Mr. Garneau. 

abiti122011While Western Canadian softwood lumber producers benefit from China's extraordinary economic development, logistical limitations mean that Asian markets remain out of reach for Central Canadian producers. Additionally, Western Canadian softwood lumber producers' purchase of 39 sawmills in the U.S., with a production capacity of some five billion board feet, afford them an important measure of insulation from future restrictive measures.

"To put this capacity into context, it is over 150 percent of the total existing capacity of Ontario's sawmills. Canadian demand is simply not enough to absorb all the production of Central Canadian sawmills," added Mr. Garneau. "We need to be able to sell freely to the U.S. Indeed, that was the whole point of the Canada – U.S. Free Trade Agreement and NAFTA. Just about every industry enjoys free trade, except for softwood lumber."

"The last softwood lumber trade arrangement between Canada and the United States was incredibly destructive, particularly for Central Canada. The previous Government of Canada not only agreed to limiting access, through quotas and taxes, it also paid over $1 billion "in ransom" to the U.S. softwood lumber producers, financed by Canadian workers. The purpose of a deal must not be simply an alternative to litigation. It must be to assure fair and equitable trade," further stressed Mr. Garneau. 

Canadians have won every legal fight with the U.S. over softwood lumber. Canada has played by the rules and proven that its industry is not subsidized, and does not cause injury to any U.S. industry. Softwood lumber producers in Quebec and Ontario need and deserve nothing less than free trade.

Canadians have an important and influential ally in the United States consumer; however, they are reticent to fully engage their powerful movement in support of Canada considering Canada's stated intention to once again agree to a managed trade deal. 

"If there is to be a deal, it must recall a principled purpose: that the Canadian softwood lumber industry does compete fairly in North America and pays a fair market price for timber, and that our forestry regimes are market-based. The Government of Canada must not negotiate a deal that does not fully recognize Central Canada's right to free trade," said Mr. Garneau. "However, if we are to go down the litigation route, the Canadian industry will need the full backing of the federal government to avoid being forced into a deal brought about by undue financial pressure by the U.S. government's actions at the border."

About Resolute Forest Products

Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, wood products, tissue, newsprint and specialty papers. The company owns or operates over 40 pulp, paper, tissue and wood products facilities in the United States, Canada and South Korea, as well as power generation assets in Canada and the United States. Marketing its products in close to 80 countries, Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.

Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit resolutefp.com for more information.

Published in Canadian News
Thursday, 08 September 2016 11:09

Resolute Enters Into New Credit Facilities

Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced that it has entered into a new senior secured credit agreement with an aggregate lender commitment of up to $185 million. The agreement is comprised of a $46.25 million nine-year term loan and a $138.75 million six-year revolving credit facility.

abiti122011"We took advantage of favorable market conditions to increase our already solid liquidity levels by 50 percent to about $535 million. These new facilities provide us flexible terms and conditions, long maturities, and no repayment penalties," said Jo-Ann Longworth, senior vice president and chief financial officer. "They also represent an excellent opportunity to secure additional liquidity at very competitive rates and will further enhance our flexibility in the execution of our growth and diversification strategy.

The company's immediate intentions are to use proceeds of the new credit facilities to repay most of the current balance on its existing ABL revolving credit facility. Both the existing and the new revolving credit facilities will then be used, as required, for general corporate purposes, notably to complete the funding requirements related to the company's tissue project at its Calhoun (Tennessee) mill.

The new credit agreement contains customary covenants, representations, and warranties and events of default for credit agreements of this type. Resolute's obligations under the facilities are guaranteed by certain material U.S. subsidiaries and are secured by first priority liens on assets located at the Calhoun mill. The credit agreement also provides for an uncommitted ability to increase the facilities by up to $175 million, subject to certain terms and conditions.

The new financing was arranged and syndicated by American AgCredit. Troutman Sanders LLP represented Resolute, assisted by Bass Berry & Sims.

About Resolute Forest Products
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers. The company owns or operates over 40 pulp, paper, tissue and wood products facilities in the United States, Canada and South Korea, as well as power generation assets in Canada and the United States. Marketing its products in close to 80 countries, Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.

Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit resolutefp.com for more information.

Published in financial News
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