Products

Foreign exchange, rising costs impact Catalyst Paper in Q1

Tuesday, April 26, 2011

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.

Catalyst Snowflake Mill to take production curtailment

Thursday, April 14, 2011

Richmond, BC – Catalyst Paper (TSX:CTL) today announced that its Snowflake mill will curtail production by approximately 5,500 tonnes of recycled newsprint in order to adjust for limited availability of affordable, quality waste paper.

Financial results strengthen in second half of 2010

Wednesday, March 2, 2011

Richmond, (BC) – Catalyst Paper (TSX:CTL) posted a net loss of $396.9 million ($1.04 per common share) on sales of $1,228.6 million during 2010. Results were significantly impacted by one-time charges of $304.2 million, including severance and impairment, associated with the permanent closure of the Elk Falls paper mill and Paper Recycling Division. The company’s net loss in 2009 was $4.4 million ($0.01 per common share) on sales of $1,223.5 million.

Port Alberni energy generation set to get more efficient

Monday, February 28, 2011

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.

Catalyst Paper’s Snowflake mill renews labour agreement to 2014

Friday, February 11, 2011

Richmond, BC– Catalyst Paper (TSX:CTL) announced today that the United Steelworkers (USW) Local 2688 representing 186 hourly employees at the company’s Snowflake mill have ratified renewal of the labour agreement through to February 28, 2014. The current labour agreement expires February 28, 2011.

Catalyst Paper Q3 results strengthen on paper price and operational improvement

Tuesday, November 2, 2010

Richmond, (BC) – Catalyst Paper (TSX:CTL) posted net earnings of $6.0 million ($0.02 per common share) on sales of $322.3 million during the third quarter of 2010. This contrasts with a net loss of $368.4 million ($0.96 per common share) on sales of $299.4 million in the prior quarter. While second quarter results were significantly impacted by impairment, severances and other closure costs of $302.0 million, improvement in the most recent quarter also reflects better paper market conditions and operational performance.

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 2006 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.

Kevin J. Clarke named Catalyst Paper President & Chief Executive

Wednesday, June 16, 2010

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.

Catalyst Paper to appeal tax ruling to Supreme Court of Canada

Monday, April 26, 2010

Richmond, (BC) – Catalyst Paper will seek leave to appeal to the Supreme Court of Canada, following dismissal of its appeal concerning the North Cowichan 2009 tax bylaw by the Court of Appeal for British Columbia. In its April 22nd decision, the Appeal Court declined to strike down the tax bylaw while calling the “extreme imbalance” perpetuated by the District of North Cowichan a political problem requiring a policy decision by elected officials.

Catalyst Paper, City of Powell River achieve unique tax solution

Thursday, April 8, 2010

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.”

Stronger market prompts Catalyst to restart 2nd Crofton pulp line

Monday, March 29, 2010

Richmond, BC – Catalyst Paper (TSX:CTL) today announced that it will restart the second line of pulp production at its Crofton NBSK kraft mill in early May, taking advantage of a stronger market. The first line of pulp production was restarted in October 2009 following a seven-month curtailment of the entire kraft mill due to weak pulp demand and pricing.

Catalyst 2009 results reflect ongoing cost reductions, weak market conditions

Thursday, March 11, 2010

Richmond, (BC) – Catalyst Paper (TSX:CTL) recorded a net loss attributable to the company of $4.4 million, or $0.01 per common share in 2009, compared to a net loss attributable to the company of $219.8 million, or $0.65 per common share in 2008.

Effective December 31, 2009, the company adopted U.S. generally accepted accounting principles (US GAAP) for presentation of its 2009 consolidated financial statements. As a consequence, the quarterly consolidated financial statements for 2009 have been restated into US GAAP and are being filed concurrently with the company’s annual consolidated financial statements.

Catalyst Paper proposes restart plan for Elk Falls paper mill

Tuesday, March 9, 2010

Richmond, BC – Catalyst Paper (TSX:CTL) today announced that it resubmitted a proposal to the union that could allow for the restart of the Elk Falls paper mill at a labour cost, all in, of approximately $40 per hour. This reflects current market realities and includes changes to wages and benefits similar to those already implemented with management and staff employees. The company also indicated that, to date, 63 per cent of eligible hourly workers at the Elk Falls operation have elected the severance option arising from indefinite curtailment of the mill since February 2009.

Catalyst Paper announces initial order under CCAA

Tuesday, January 31, 2012

Richmond, BC – Catalyst Paper Corporation (TSX:CTL) announced today that the company and certain of its subsidiaries have obtained an Initial Order from the Supreme Court of British Columbia under the Companies’ Creditors Arrangement Act (CCAA). The terms and conditions of the restructuring plan have not yet been determined by the company.

Catalyst Paper to file for creditor protection

Tuesday, January 31, 2012

Richmond, BC – Catalyst Paper Corporation (TSX:CTL) announced today that to facilitate an orderly restructuring of its business and operations, the board of directors of the company has approved a filing for an Initial Order from the Supreme Court of British Columbia to commence proceedings under the Companies’ Creditors Arrangement Act (CCAA). The terms and conditions of the restructuring plan have not yet been determined by the company.