Asset Impairment Overshadows Catalyst Paper’s Improved Financial Results

Catalyst’s appeal of its 2009 property tax assessment by the municipality of North Cowichan was heard in the Supreme Court of Canada in October, with a decision expected within six to 12 months.

The fourth quarter is a seasonally strong one for specialty grades, although the general outlook for print advertising remains weak and continued demand declines are expected for newsprint and directory. Exchange rate volatility is also expected to further impact operating and net returns as well as cash flow and liquidity in the fourth quarter.