US $
MONTRÉAL, Oct. 7, 2015
/PRNewswire/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP)
today announced the completion of the selection of all the key
equipment for the new tissue facility being built at its
Calhoun pulp and paper mill, in
Tennessee.
In addition to the previously announced Advantage NTT tissue
machine, the company has committed to the purchase of the new
Futura Andromeda converting technology and Infinity packaging
solution. The selection of the state-of-the-art equipment followed
a rigorous process to ensure best-in-class flexibility and ability
to deliver the highest quality products for the premium quality
consumer market.
On June 1, 2015, the company
unveiled a $270 million investment in
a new facility that will manufacture at-home, premium private label
tissue paper, including bath and towel. The operation is expected
to begin producing tissue in the first quarter of 2017.
"This completes the selection of major equipment and finalizes
the first step in delivering the highest quality product to retail
customers for their store brands," stated Richard Garneau, president and chief executive
officer.
The move into the tissue market represents an important step
forward in Resolute's growth strategy, and the company will
continue to evaluate opportunities to expand its presence in this
growing market segment.
Cautionary Statements Regarding Forward-Looking
Information
Statements in this press release that are not reported financial
results or other historical information of Resolute Forest Products
Inc. are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. They include, for
example, statements relating to: our ability to successfully
penetrate the market and the expected benefits of the tissue
project generally; the costs and project scheduling associated with
the construction of the new tissue and converting facility; our
business and operating outlook in the tissue markets, our
assessment of those market conditions, and our prospects, growth
strategies and the industry in general; and strategies for
achieving our goals generally. Forward-looking statements may be
identified by the use of forward-looking terminology such as the
words "should," "would," "could," "will," "may," "expect,"
"believe," "anticipate," "attempt," "project" and other terms with
similar meaning indicating possible future events or potential
impact on our business or Resolute's shareholders.
The reader is cautioned not to place undue reliance on these
forward-looking statements, which are not guarantees of future
performance. These statements are based on management's current
assumptions, beliefs and expectations, all of which involve a
number of business risks and uncertainties that could cause actual
results to differ materially. The potential risks and uncertainties
that could cause Resolute's actual future financial condition,
results of operations and performance to differ materially from
those expressed or implied in the press release referred to above
include, but are not limited to, the impact of currency
fluctuations on our competitive position, selling prices and
manufacturing costs; the impact of global economic conditions;
intense competition in the forest products industry and our ability
to compete effectively; negative publicity, even if unjustified,
which could have a negative impact on our brand and the
marketability of our products; the highly cyclical nature of the
forest products industry, which could impact the prices of and
demand for our products which could result in small or negative
profit margins, lower sales volumes and curtailment or closure of
operations; our ability to maintain adequate capital resources to
provide for all of our capital requirements, which are substantial;
any inability to successfully implement our strategies to increase
our earnings power; the impact of changes in laws or regulations;
any difficulties in obtaining wood fiber at favorable prices, or at
all; the impact of changes in the cost of purchased energy and
other raw materials, which could lead to higher manufacturing costs
and reduce our margins; the impact of changes in political or
economic conditions in Canada,
the United States or other
countries in which our products are manufactured or sold; the
impact of any labor disputes; extreme weather conditions or natural
or man-made disasters, which could disrupt our supply chain and
delivery of our products; cyber security risks; the impact of
acquisitions, divestitures or other strategic transactions we may
pursue; and the potential risks and uncertainties set forth under
Part I, Item 1A, "Risk Factors," of our annual report on Form 10-K
for the year ended December 31,
2014.
About Resolute Forest Products
Resolute Forest Products is a global leader in the forest
products industry with a diverse range of products, including
newsprint, specialty papers, market pulp and wood products. The
company owns or operates some 40 pulp and paper mills and wood
products facilities in the United
States, Canada and
South Korea, and power generation
assets in Canada. Marketing its
products in close to 80 countries, Resolute has third-party
certified 100% of its managed woodlands to at least one of three
internationally recognized sustainable forest management standards.
The shares of Resolute Forest Products trade under the stock symbol
RFP on both the New York Stock Exchange and the Toronto Stock
Exchange.
Resolute and other member companies of the Forest Products
Association of Canada, as well as
a number of environmental organizations, are partners in the
Canadian Boreal Forest Agreement. The group works to identify
solutions to conservation issues that meet the goal of balancing
equally the three pillars of sustainability linked to human
activities: environmental, social and economic.
Resolute is proud to be ranked by Corporate Knights as one of
Canada's Best 50 Corporate
Citizens for 2014. The company and Richard
Garneau, president and chief executive officer, have been
named to Canada's 2015 Clean50,
and Resolute was also awarded The New Economy magazine's
global Clean Tech Award for best forestry and paper solutions.
SOURCE Resolute Forest Products Inc.