Resolute Declares $54M Investment in Northwestern Ontario Operations

SEATTLE (Scrap Monster): Resolute Forest Products, Inc. (RFP) announced investment of $53.5 million in its Northwestern Ontario operations. This comprises of $40 million in new investments and $13.5 million in major maintenance projects. The announcement was made during a press conference, which was attended by Ontario Premier Doug Ford, Ontario Minister of Natural Resources and Forestry Jeff Yurek along with company employees and other dignitaries. The proposed investment is expected to result in creation of at least 25 new jobs in the region.

The new investment is aimed at ensuring the profitability and long-term competitiveness of the NW Ontario operations, said Yves Laflamme, president and chief executive officer.

According to RFP, $14.7 million will be spent towards improving energy efficiency and reducing greenhouse gas emissions at its Thunder Bay pulp and paper mill. Another $14.3 million will be spent on the facility to improve its pulp capacity, reduce costs and maintain assets. In addition, $13.5 million will be spent on major maintenance at the facility. The planer line at the Thunder bay sawmill will be modernized at an expense of $5.6 million. Also, $5.4 million has been earmarked towards optimization of its Atikokan, Ignace and Thunder Bay sawmills.

More than 50% of the project expenditure are likely to happen during the last quarter of the current year.