Sustainability

Richmond, BC – Catalyst Paper today announced that the meetings of its secured and unsecured creditors to consider the plan of arrangement under the Companies’ Creditors Arrangement Act   have been rescheduled to May 23, 2012.  The meetings were previously scheduled for May 18, 2012.

Richmond, BC – Catalyst Paper announced today that the date for the meetings of its secured and unsecured creditors to consider the plan of arrangement under the Companies’ Creditors Arrangement Act has been changed from May 2, 2012 to May 15, 2012.

Richmond, (BC) – Catalyst Paper (TSX:CTL) posted a net loss of $12.9 million ($0.03 per common share) on sales of $303.6 million in the first quarter of 2011, reflecting a post-holiday season plateau in paper markets. Sales revenues were negatively impacted by the above-par Canadian dollar; however a foreign exchange gain was recorded on the translation of U.S. dollar denominated debt. In the previous quarter, net earnings of $9.6 million ($0.02 per common share) were recorded on sales of $333.6 million.

Port Alberni, BC – Catalyst Paper (TSX:CTL) today announced $4.7 million in Federal funding approval for a capital upgrade at its Port Alberni mill.  This will improve the efficiency and reliability of biomass-based energy generation, while further reducing greenhouse gas and other air emissions.  The project is funded entirely by the Pulp and Paper Green Transformation Program (PPGTP) credits, earned through production of black liquor at the Crofton pulp operation in 2009.

Richmond, BC – Catalyst Paper (TSX:CTL) announced, today, the appointment of Kevin J. Clarke as President and Chief Executive Officer. Mr. Clarke is a seasoned print industry executive bringing nearly three decades of experience with World Color (Quebecor World) to his new role at Catalyst.
 

Powell River, BC – Catalyst Paper and the City of Powell River have inked an agreement in principle to achieve the twin objectives of reducing the Class 4 property tax rate paid by the company’s Powell River mill while assisting the City in reducing significantly its capital expenditures for future municipal service infrastructure.

“Council committed to looking for solutions to the major industry property tax in Powell River,”
said Mayor Stewart Alsgard. “We have held frank, realistic discussions with Catalyst culminating in a very positive outcome that reflects the needs of the community and provides for a way forward under challenging circumstances.”