Friday, August 07, 2009
AbibtiBowater Shutters 2 more machines
AbitibiBowater will shut down 2 more machines, both at the Thunder Bay, Ontario mill. Paper machine #4, which produces 146,000TPA of uncoated mechanical paper (publication), and #5Paper Machine , a 250,000TPA newsprint machine. Both will remain down until the markets improve.
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Is the largest producer of newsprint in the world going out of business? NOTE: they continue to shutter equipment; demand trend is down (and forecast to continue to decline). I now read the company lost millions last quarter - even though all the cost reduction initiatives are in place.
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