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Toward a Common Cause August 2009447.72 KB

Recent News

Catalyst Paper names new Chairman of the Board
Thursday, July 29, 2010

Richmond, BC – Catalyst Paper (TSX:CTL) today announced several changes to its board of directors which take effect July 30, 2010.

Assuming the role of chairman is Benjamin Duster IV, former chairman of Algoma Steel. Mr. Duster joined the Catalyst board in December 2007 bringing 20 years of Wall Street experience. He is a graduate of Harvard Business and Harvard Law Schools and was admitted to the Illinois Bar in 1985. Mr. Duster is a director on several corporate boards including Jazz Air Holding GP Inc.

Catalyst Q2 results impacted by asset write-down
Thursday, July 29, 2010

Richmond, (BC) – Catalyst Paper (TSX:CTL) recorded a net loss of $368.4 million ($0.96 per common share) on sales of $299.4 million for the second quarter of 2010. Results were significantly impacted by after-tax impairment and closure costs of $302.0 million on the permanent closure of the Elk Falls and Paper Recycling Divisions. The net loss before specific items was $43.9 million ($0.11 per common share) compared to $37.6 million ($0.10 per common share) in the previous quarter. Specific items included a $21.3 million after-tax foreign exchange loss on the translation of long-term debt.

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