Domtar announces indefinite closure of four sawmills
October 11 2006 - 2:15PM
PR Newswire (US)
TICKER SYMBOL DTC (TSX, NYSE) MONTREAL, Oct. 11
/PRNewswire-FirstCall/ -- Domtar Inc. announced the indefinite
closure of four sawmills: three in Abitibi, Quebec and one in
Ontario. The closures are primarily due to the pressure of higher
timber costs and lower demand for both lumber and wood chips. The
Matagami and Val d'Or sawmills, which respectively employ about 100
and 125 people, will be closed effective October 27, 2006. The
Lebel-sur-Quevillon sawmill, which until recently employed about
125 workers, will be shut down immediately. The Nairn Centre
sawmill in Ontario, which employs about 140 workers, will close on
October 13, 2006. In addition, these closures will cut production
capacity by approximately 400 million board feet of lumber and
result in the layoff of approximately 450 forestry workers. "On the
one hand, substantially higher procurement and processing costs for
sawlogs have impacted the competitive position of our sawmills in
recent years. On the other hand, the slowdown in demand has exerted
considerable downward pressure on selling prices for wood products
in recent months. These two main factors have led us to make these
difficult decisions," said Richard Garneau, Executive Vice
President, Operations. Meetings have been held with mill
management, union representatives, and the approximately 950
employees affected by the closures. DOMTAR IS THE THIRD LARGEST
PRODUCER OF UNCOATED FREESHEET PAPER IN NORTH AMERICA. IT IS ALSO A
LEADING MANUFACTURER OF BUSINESS PAPERS, COMMERCIAL PRINTING AND
PUBLICATION PAPERS, AND TECHNICAL AND SPECIALTY PAPERS. DOMTAR
MANAGES ACCORDING TO INTERNATIONALLY RECOGNIZED STANDARDS 18
MILLION ACRES OF FORESTLAND IN CANADA AND THE UNITED STATES, AND
PRODUCES LUMBER AND OTHER WOOD PRODUCTS. DOMTAR HAS 8,500 EMPLOYEES
ACROSS NORTH AMERICA. THE COMPANY ALSO HAS A 50% INVESTMENT
INTEREST IN NORAMPAC INC., THE LARGEST CANADIAN PRODUCER OF
CONTAINERBOARD. DATASOURCE: DOMTAR INC. CONTACT: Christian Tardif,
Manager, Corporate and Financial Communications, (514) 848-5515, ;
Source: Richard Garneau, Executive Vice President, Operations,
(514) 848-5737,
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