RFP Announces 40% Cut in Newsprint Paper Capacity
The company spokesperson noted that it has not yet set any timeline for restarting the idled plants.
SEATTLE (Scrap Monster): The notable decline in demand has resulted in reduction in capacities by several newsprint manufacturers across the North American region. The recent shutdown measures by several countries have only added to market woes. The publication paper market is already struggling from excess capacity, market participants say.
Resolute Forest Products has halted a good portion of its newsprint capacity during the pandemic crisis. It has idled its Baie-Comeau and Amos mills in Québec, having production capacities of 322,000t and 194,000t respectively. The company is said to have total newsprint capacity of 1.3 milliion t across six facilities in the region. The combined capacity of the idled facilities accounted for almost 40% of the total capacity. Earlier in February this year, the company had idled its Comtois lumber mill site in Quebec.
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The company spokesperson noted that it has not yet set any timeline for restarting the idled plants. Although it does not intend to close the facilities permanently, the restart of the mills will be purely dependent on improvement in market conditions after the pandemic-related crisis.
The demand for newsprint papers and speciality papers have witnessed huge collapse, with delivery volumes dropping by at least 50% from the normal levels.
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