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Laurentide mill to be permanently closed in mid-october

Management met with Laurentide paper mill workers in Shawinigan, Quebec, today to inform them that the mill will be shut down permanently on or about October 15, 2014. Unfortunately, owing to its cost structure and market conditions, economically viable options could not be found for the mill.

Over the past two years, management and employees worked hard to improve the performance of the Laurentide operation. However, the mill’s competitiveness has been affected by a combination of factors, including the restart of a competitor’s mill in late 2012, the high price of fiber, as well as higher freight and fuel costs.

Management will also ensure that each employee receives support, that the relevant conditions in the collective agreements are respected, and that as many employees as possible are transferred to other Company facilities.

For more information, please refer to Resolute’s August 29, 2014 press release.

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