Nexfor cutting fourth quarter pulp and paper production
Last Updated Mon, 22 Dec 2003 16:18:40
TORONTO - Nexfor Inc. (TSX:NF) said it is cutting about 40,000 tons of pulp and paper production in Canada and the United States in the fourth quarter.
The company said Monday the cuts will hit a market pulp operation in Thurso, Que, plus mills in Park Falls, Wisc., Madawaska, Me., and Gorham, N.H.
"Given the continued weakness in the market, we intend to be extremely disciplined in ensuring our inventories are tightly managed, and that our specialty paper machines are specifically targeted to the right customers," Bert Martin, Nexfor's executive vice president of paper, said.
Nexfor's annual production capacity is approximately 850,000 tons of paper and 450,000 tons of market pulp.
Shares of Nexfor slipped 43 cents to end at $10.46 on the TSX.
Written by CBC News Online staff
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