Friday, July 31, 2015

Resolute Forest plans $50-million project to build saw mill in N.W. Ontario

MONTREAL — Resolute Forest Products (TSX:RFP) says it’s going to build a new saw mill in the Atikokan area of northwestern Ontario.
Once completed, the operation will employ about 90 people directly and others indirectly.

Resolute said Thursday that a site for the mill will be chosen within weeks.
Construction is to begin this spring and completion is targeted for early next year.
The Montreal-based company, formerly called AbitibBowater, estimates the project will cost $50 million.
“We believe in our solid wood business and we’re taking action to grow and improve it,” Resolute president and CEO Richard Garneau said in a statement.
Besides producing lumber, the mill will also supply chips to the company’s pulp and paper operations in Thunder Bay, Ont.

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