Resolute Forest Products’ costs for closing Bowater Mersey
Resolute Forest Products now estimates that it will incur, on an accounting basis, a charge of approximately $18 million for severance and other termination benefits and approximately $77 million of asset impairment charges to reduce the carrying value of the mill assets.
Total future cash expenditures associated with these items are expected to be approximately $17 million, $10 million of which will be incurred in the third quarter of 2012.
After adjusting for minority interests, the severance and other termination benefits are estimated to be $9 million and the asset impairment charges are estimated to be $39 million.
Future cash expenditures, after minority interests, would be approximately $5 million in the third quarter and $4 million thereafter.
Source: Resolute Forest Products
- Bowater Mersey vote tonight
- Bowater Mersey workers vote in favour of concessions
- Province of Nova Scotia will be making a Bowater Mersey announcement tomorrow
- $50 Million for Bowater Mersey from Nova Scotia taxpayers
- Bowater Mersey lays off 20 non-unionized workers, 33 union workers take severance package
- Resolute Forest Products sells 25,000 acres of land to Nova Scotia
- Bowater Mersey cuts the price they'll pay for pulpwood by 10%
- Bowater Mersey schedules 3 weeks of downtime