Financials - Abitibi Consolidated vs. Bowater

Nov 20, 2009 | In Financial News | 5 feedbacks »

AbitibiBowaterAbitibiBowater has released separate financial numbers for its subsidiaries:

  • Bowater Inc. and Bowater Newsprint South LLC
  • Abitibi-Consolidated Inc. and AbitibiBowater US Holding LLC

Here are some of the numbers for the last quarter:

Sales
Bowater: $529 million
Abitibi: $566 million

Operating Loss
Bowater: $37 million
Abitibi: $9 million

Net Loss
Bowater: $254 million
Abitibi: $241 million

Assets
Bowater: $3.476 billion
Abitibi: $4.288 billion

Total Liabilities
Bowater: $4.069 billion
Abitibi: $4.942 billion

"The underlying financial records from which the Financial Information was derived have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. However, the commencement of the Creditor Protection Proceedings raises substantial doubt about AbitibiBowater's ability to continue as a going concern."

See more numbers:
Form 8-K Report of unscheduled material events or corporate changes. - November 19th, 2009 (AbitibiBowater)

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Comment from: doctorblade [Member] Email
Maybe there is some "truth about that rumour" that Abi-bow will be split up after all.(why the different financials??)
I wouldn't doubt this whole "Abi-bow merger/BK" was a set-up just to pay off the "big boys,screw the workers/contractors and relinquish on paying debt"!
Just curious,has anyone at the TBay plant heard any new info on the turbine project?What would be the sense in spending millions on this endeavour(mainly needed for print operations) IF the paper machines are "toast".Rumour has it that #4pm will NEVER restart so why spend 50 million for just #5pm??
Thank god for Metro grocery stores, otherwise,where would "we" get out info from?
20/11/09 @ 15:10
Comment from: neebing [Member] Email
""Thank god for Metro grocery stores, otherwise,where would "we" get out info from?""

ROTFLMAO

nota bene: between the Met and the liquor store!!
20/11/09 @ 17:51
Comment from: disgruntled [Member] Email
don't leave out the BEER store,,,lol
20/11/09 @ 19:03
Comment from: roger [Member] Email
Ok...doctorblade...fill me in. Obviously there's a rumour from your end that I have yet to hear. Something about a split????....divorce maybe???
20/11/09 @ 22:37
Comment from: pulperpete [Member] Email
Doctorblade, you hit it right on the head. There were alot of golden parachutes given to the Bowater folks when this merge took place and the shareholders got thier buyouts at value before the merge plummeted thier worth. Now the divorce starts and we all know who gets hurt, the kids or in this case the workers. As Abitibi crashes and Bowater comes out of Chapter 11 the top hogs at Abitibi will be getting thier golden parachutes and the workers and pensioners will be ripped off again. Wonder when the top dogs at the CEP will realize whats going on, probably after they have sold the farm.
23/11/09 @ 16:12

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