Eastern Pulp & Paper
Corp. reached wage and benefit agreements with employees at the company's two
papermaking mills in northern Maine.
Employees at Eastern's
Brewer and Lincoln, Maine, facilities earlier this month overwhelmingly voted
in favor of the changes, which further reduce the company's costs. This
development, along with effective cost reduction programs already in place, are
key reasons for the company's economic progress, Eastern chairman and CEO Joseph
Torras, Sr., said today.
"These encouraging
developments, along with stronger than expected sales for our pulp and paper
products during the last three months, will assist us in emerging from Chapter
11 proceedings," Torras said. "Results for the month of January may
turn out to be better than December, which, in turn, was better than
November--all exceptions within the pulp and paper industry."
"The continued strength
of Eastern's products in all of its markets and the support of each Eastern
customer across North America is particularly heartening, and I want to
personally thank our customers for it," said Torras. "We simply could
not do it without you."

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