AbitibiBowater Exits Bankruptcy in U.S. and Canada

MONTREAL—AbitibiBowater has successfully completed its reorganization and emerged from creditor protection under the Companies’ Creditors Protection Act (CCAA) in Canada and Chapter 11 of the U.S. Bankruptcy Code.

“Through our restructuring efforts, we have transformed this organization and given AbitibiBowater a new future—one driven by a company-wide commitment to profitability and sustainability,” stated David Paterson, president and CEO. “By strengthening our competitiveness and dramatically improving our financial position, AbitibiBowater has become one of the lowest cost forest products companies in North America. We are now a leaner, more flexible organization with a balanced product portfolio, better able to create value for our stakeholders while responding to the challenges of a tough industry with ongoing market volatility.”