Abitibi-Consolidated
is reducing its newsprint price hike. The company cited the difficult economic environment
for the decision to cut in half the 8 percent price hike.
The
price hike, scheduled to go into effect March 1, it was hoped, would push finished
newsprint prices to $665 a metric tons. However, the increase now will be $25 per
metric ton.
As the
company struggles with high debt and soft finished product prices news reports
have the Montreal-based paper company shutting several older operations,
including a construction-paper machine at the Abitibi mill in Iroquois Falls,
Ont.
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