AbitibiBowater Plans to Invest in its Iroquois Falls Paper Mill

“In addition to improving mill economics, the conversion to 100% externally supplied chips will also provide an outlet for chip residuals from sawmills on the Highway 11 corridor. This will be particularly important as markets for Ontario lumber recover,” added Maillé.

“The investments announced today are consistent with AbitibiBowater’s overall strategy of achieving greater efficiency in its existing mills and building on proven competencies,” stated Richard Garneau, president and CEO. “Newsprint remains an important component of our business. While market and economic conditions remain challenging, the Company will invest where there is a good resource base, a strong workforce and a receptive investment climate. The investments announced today reflect our view that the Iroquois Falls mill and its employees are worthy of our confidence and that Ontario is a good place to invest.”