Resolute Announces Start-up of New Tissue Machine at Calhoun
MONTRÉAL, March 29, 2017 /CNW Telbec/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) is pleased to announce the successful start-up of its new tissue machine in Calhoun (Tennessee). The first tissue parent roll was produced on February 28, 2017.
The machine will continue its scheduled ramp-up through 2017 and is expected to be producing at maximum capacity toward mid-2018. With its fully operational converting facility, converted tissue products sold from Calhoun are now manufactured entirely from parent rolls produced on-site.
The Calhoun tissue operation, built at Resolute's pulp and paper mill, has the capacity to manufacture 66,000 short tons (60,000 metric tons) annually of premium private-label tissue, including bath and towel, aimed at the at-home market.
With its state-of-the-art machine, three converting lines and integration of pulp from the existing Calhoun pulp mill, this will be one of the most efficient and cost-competitive tissue operations in North America once full production is achieved, positioning Resolute as a key player in this growing market segment.
About Resolute Forest Products
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products, newsprint and specialty papers, which are marketed in over 70 countries. The company owns or operates some 40 manufacturing facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.
Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.
Cautionary Statements Regarding Forward-Looking Information
Statements in this press release that are not statements of historical results, performance, financial condition, or other historical information of Resolute Forest Products Inc. are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. They include, for example, statements regarding the expected ramp-up schedule of the new Calhoun tissue machine, and the expected efficiency and cost-competitiveness of the Calhoun tissue operations. Forward-looking statements may be identified by the use of forward-looking terminology such as the words "will," "expect" and other terms with similar meaning indicating possible future events or potential impact on our business or our shareholders.
The reader is cautioned not to place undue reliance on these forward-looking statements, which are not guarantees of future performance. These statements are based on management's current assumptions, beliefs, and expectations, all of which involve a number of business risks and uncertainties that could cause actual performance or outcomes to differ materially from those expressed in this press release. Some of the potential risks and uncertainties that could cause the company's actual future performance or outcomes to differ materially from those expressed or implied in this press release include, but are not limited to, any unexpected delays in the ramp-up schedule; any inability to achieve or maintain the expected benefits of the integration of pulp from the existing Calhoun pulp mill with our Calhoun tissue production; and the potential risks and uncertainties described under the heading "Risk Factors" in Part I, Item 1A of the company's annual report on Form 10-K for the year ended December 31, 2016.
All forward-looking statements in this press release are expressly qualified by the cautionary statements set out or referred to above and in the company's filings with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities. The company disclaims any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Resolute Forest Products Inc.For further information: Investors: Alain Bourdages, Vice President, Investor Relations, 514 394-2233, firstname.lastname@example.org; Media and Others: Seth Kursman, Vice President, Corporate Communications, Sustainability and Government Affairs, 514 394-2398, email@example.com