AbitibiBowater Inc.
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|
| Public | |
| Traded as | : RFP : RFP |
| Industry | Pulp and Paper |
| Founded | 2007 (Abitibi-Consolidated and Bowater merger) |
| Headquarters |
Montreal, Quebec Canada |
|
Area served
|
Worldwide |
|
Key people
|
Bradley P. Martin (Chairman of the board) Richard Garneau CEO |
| Products |
Newsprint Commercial printing papers Market pulp Wood products |
| Revenue |
 US$ 4.256 billion ("2014") |
|
US$ 174 million ("2014") |
|
 US$ 277 million("2014") |
|
| Total assets |
US$ 4.921 billion ("2014") |
| Total equity |
US$ 2.117 billion ("2014") |
|
Number of employees
|
7,700 (2014) |
| Website | www |
Resolute Forest Products (French:Produits forestiers Résolu), formerly known as AbitibiBowater Inc., is a pulp and paper manufacturer headquartered in Montreal, Quebec, Canada, formed by the merger of Bowater and Abitibi-Consolidated, which was announced 29 January 2007. At the time, AbitibiBowater was the third largest pulp and paper company in North America, and the eighth largest in the world. On 16 April 2009 the company filed for creditor protection in the United States and similar protection under the Companies' Creditors Arrangement Act in Canada, eventually reporting debt of about US$6 billion. The company won court approval for $206 million to finance restructuring. AbitibiBowater emerged from creditor protection on 9 December 2010. AbitibiBowater changed its operating name to Resolute Forest Products in late 2011.
Resolute Forest Products is a member of the Forest Products Association of Canada.
The company website reports Resolute Forest Products manages “approximately 14.9 million hectares (36.9 million acres) of forestland in North America (as of June 30, 2011). 98% of this area is public land in Canada, managed through long-term forest management arrangements that include a public input process and regular periodic government auditing.”
Resolute Forest Products became a member of the World Wildlife Fund’s Climate Saver’s Program on November 10, 2011 with a commitment to “reduce their absolute greenhouse gas (GHG) emissions by 65 per cent by 2015 below 2000 levels” .
The Communications, Energy and Paperworkers Union of Canada has been critical of the company's attempts to renegotiate pension contributions with their pension underfunded by approximately $1.9 billion. On 3 May 2013, however, it was reported that an agreement was put in place which may address the ongoing pension dispute with Resolute agreeing to increase its pension payments and “stabilize the pension plan over the next decade.”
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Wikipedia