Catalyst Paper is permanently closing Elk Falls paper mill & Coquitlam recycling operation
Catalyst Paper has decided to permanently close its Elk Falls paper mill near Campbell River, British Columbia and its paper recycling operation in Coquitlam, British Columbia.
The Elk Falls mill has been idled since 2009. The Coquitlam paper recycling facility has been idled since February.
“The steep decline in commodity paper markets, coupled with uncompetitive labour and tax costs were contributing factors that could not be overcome,” Catalyst president and CEO Kevin Clarke.
Catalyst Paper will be taking a $302-million charge, including severance costs, in its second-quarter due to the closures.
Catalyst Paper closing paper mill and recycling operation in B.C. (Winnipeg Free Press)
- Catalyst Paper threatens to sell all its mills if restructuring plan isn't accepted this time
- Third deadline for sale of Catalyst Paper's Elk Falls mill seems to have passed without a completed deal
- Catalyst Paper extends deadline to close sale of Elk Falls mill site
- Developer purchasing Catalyst Paper's Elk Falls mill site nailed with environmental contamination remediation order in Alberta
- Catalyst Paper unable to close agreement to sell Elk Falls site
- Campbell River faces tax shortfall after reassessment of the Elk Falls mill site
- Catalyst Paper posts net loss of $205.7 million in third quarter
- Catalyst Paper skips $21 million interest payment due today