“Continued adverse economic conditions and the decline of fine paper orders require that we reduce our uncoated freesheet manufacturing capacity,” says
The
From a financial perspective, the closure will result in pre-tax charges to earnings of approximately
As a result of this decision, the carrying amount of the remaining assets is currently being tested for impairment and may result in a write-down during the first quarter of 2009. The carrying amount of these assets was approximately
Domtar says it will take appropriate measures to assist employees affected by these decisions in accordance with its policies.
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