|Industry||Pulp and paper, wood products|
|Founded||Greenville, South Carolina, USA (1997 )|
|Headquarters||Greenville, South Carolina, USA|
|Products||Newsprint, Uncoated Groundwood, Wood Products, Recycling Services, Lumber|
|Employees||10,000 at time of merger|
Bowater was a British founded, and later American pulp and paper company which became based in Greenville, South Carolina. Bowater had 12 pulp and paper mills in the United States, Canada and South Korea and 13 North American sawmills. It had approximately 10,000 employees. Bowater acquired additional Canadian interests in the late 1990s when they bought Avenor (formerly Canadian Pacific Forest Products).
|Financial Information |
|Total Revenue (US$M)||2,581||2,454|
|Net Earnings (Loss) (US$M)||(142)||70.5|
Merger with Abitibi-Consolidated
On January 29, 2007, Bowater and Abitibi-Consolidated announced they would be merging to create AbitibiBowater. The merger created the third largest pulp and paper company in North America, and the eighth largest in the world.
Resolute Forest Products
As of July 1, 2012, the company name changed to Resolute Forest Products. It operates 21 pulp and paper mills in Canada, U. S. and one in Korea, with capacity of 2.1 million metric tons of commercial printing papers 3.1 million metric tons of newsprint 1.1 million metric tons of market pulp
It operates 22 sawmills/wood products facilities with annual production capacity of lumber close to 2.7 billion board feet. Resolute also remanufactures and engineers wood to maximize its strength, creating value-added products.
On July 12, 2002, Bowater Inc. restated its earnings for the last two quarters because of a "mathematical error in a computer model." The error was connected to two sales of timberland that totaled about $230 million.
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