News Archive: April 2008
Richmond, BC – Catalyst Paper announced today that workforce reductions will occur at its two largest mills as the company adjusts to rising input costs and a relentless fibre shortage made worse by recent sawmill closures.
Richmond, BC – Catalyst Paper’s Paper Recycling Division (PRD) named Metro Waste Paper Recovery as the recipient of its 2007 Supplier of the Year award, choosing Earth Day to announce the award. Metro Waste is the only supplier to have earned this recognition for the third time.
Crofton, BC - On April 21, 2008, Catalyst Paper will resume operating the Cowichan Lake weir that regulates water flow out of Cowichan Lake. The weir operation will gradually reduce water flow from the lake into the Cowichan River to the target flow level of 25 cubic meters per second set by the Ministry of Environment.
The Cowichan Lake boat lock, which allows boats to travel between the lake and the river, will also begin operating again on April 21, 2008. Both the weir and boat lock were decommissioned for the winter season in October 2007.
Richmond, BC – Concurrent with the finalization of its acquisition of the recycled newsprint mill in Snowflake, Arizona, Catalyst Paper Corporation (TSX:CTL) is adjusting its executive portfolios to align leadership with more efficient segmentation of the company’s manufacturing operations.
Richmond, BC – Catalyst Paper Corporation (TSX:CTL) has completed its US$161 million acquisition of the recycled newsprint mill in Snowflake, Arizona. A definitive agreement to acquire this operation from an AbitibiBowater subsidiary was announced in February, and its finalization represents the first extension of Catalyst’s manufacturing base beyond Canada.
Richmond, BC - Catalyst Paper Corporation (TSX:CTL) announced today that its Rights Offering, which expired at 5:00 p.m. (Toronto time) on April 7, 2008, was 27% oversubscribed. Catalyst will, subject to rounding, be issuing a total of 167,069,361 Subscription Receipts for gross proceeds of $125,302,021.
Vancouver, BC – Catalyst Paper Corporation (TSX:CTL) issued a reminder today that its previously announced Rights Offering expires at 5:00 p.m. (Toronto time) on Monday, April 7, 2008 (the "Expiry Date").