Each issue of PaperMoney is approximately 500 fact filled pages.
Logout
Click here for Pulp & Paper Radio International
Items just for you
New publication added! Advertising Arguments 2015 book
Free Downloads
Search
My Profile
Login
Management Side
Technical Side
Catalyst Paper Announced Capital Spending to Focus on Maintenance of Business
Print
Vancouver, British Columbia, Canada, 02 November 2007 -- /PRNewswire/ -- Catalyst Paper announced today that its program of high return capital projects will be largely complete in 2007. Capital spending is expected to return to basic maintenance levels in 2008.

Capital spending to the end of the third quarter was CAD 68 million and is expected to reach approximately CAD 90 million by year end, similar to the previous two years.

"With the majority of capital initiatives reaching completion this year, we are able to return to maintenance of business capital spending level in the range of CAD 35 million in 2008," Richard Garneau, president and chief executive officer told investors during the company's third quarter earnings call. "With a Canadian dollar trading at USD 1.07 today, it's prudent to take a pause in our capital initiatives to manage our cash flow to protect the underlying business."

The company also announced, today, a CAD 60 per short ton price increase for its Electracote Gloss and Satin (#5 LWC) paper grades, effective 01 December 2007, bringing the total announced increases to CAD 180 per ton since 01 July 2007.

Catalyst is a leading producer of mechanical printing papers in North America, headquartered in Richmond, British Columbia. The company also produces market kraft pulp and owns western Canada's largest paper recycling facility. With five mills at sites within a 160-kilometer radius on the south coast of British Columbia, Catalyst has a combined annual capacity of 2.4 million metric tons of product. Catalyst's common shares trade on the Toronto Stock Exchange under the symbol CTL.

Source: Catalyst Paper Corporation


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: