| Type | Public |
|---|---|
| Traded as | TSX: ABH NYSE: ABH |
| Industry | Pulp and Paper |
| Founded | 2007 (Abitibi-Consolidated and Bowater merger) |
| Headquarters | Montreal, Quebec Canada |
| Area served | Worldwide |
| Key people | Richard B. Evans (Chairman) Richard Garneau (President) |
| Products | Newsprint Commercial printing papers Market pulp Wood products ` |
| Revenue | US$ 4.746 billion ("2010") |
| Operating income | US$ -160 million ("2010") |
| Net income | US$ 2.614 billion ("2010") |
| Total assets | US$ 7.156 billion ("2010") |
| Total equity | US$ 3.987 billion ("2010") |
| Employees | 10,000 (2011) |
| Website | [http://resolutefp.com/ www.ResoluteFP.com |
Resolute Forest Products (French:Produits forestiers Résolu), formerly and still legally known as AbitibiBowater Inc. (TSX: ABH, NYSE: ABH) is a pulp and paper manufacturer headquartered in Montreal, Quebec, Canada, formed by the merger of Bowater and Abitibi-Consolidated, which was announced 29 January 2007.[1] At the time, AbitibiBowater was the third largest pulp and paper company in North America, and the eighth largest in the world. On 16 April 2009 the company filed for creditor protection in the United States and similar protection under the Companies' Creditors Arrangement Act in Canada, eventually reporting debt of about US$6 billion.[2] The company won court approval for $206 million to finance restructuring.[3] AbitibiBowater emerged from creditor protection on 9 December 2010[4] and returned to profitability.[5] On 11 October 2011 AbitibiBowater announced it would be changing its operating name to Resolute Forest Products effective 7 November 2011.[6] [7]
On 18 May 2010, Resolute Forest Products joined 29 other organizations including Greenpeace and The David Suzuki Foundation [8] to become a founding member of the Canadian Boreal Forest Agreement (CBFA).[9] The agreement formalizes the members’ commitments to protecting the diversity of ecosystems and wildlife within the Boreal region. Prior to the signing of the CBFA, the company was criticized by some environmental groups for the loss of old-growth and intact forests, and related impacts on threatened wildlife including woodland caribou.
The company website reports Resolute Forest Products manages “approximately 14.9 million hectares (36.9 million acres) of forestland in North America (as of June 30, 2011). 98% of this area is public land in Canada, managed through long-term forest management arrangements that include a public input process and regular periodic government auditing.”
Resolute Forest Products is a member of the Forest Products Association of Canada.