ABWTQ (OTC)MONTREAL, July 2 /CNW Telbec/ - AbitibiBowater announced today that the
Company has appointed Mr. Bruce K. Robertson as Chief Restructuring Officer.
Mr. Robertson's primary responsibility will be to support Company efforts in
the restructuring process stemming from AbitibiBowater's creditor protection
filings. He will work closely with the Executive Team and report to David J.
Paterson, President and Chief Executive Officer.
"We are pleased to have Bruce Robertson on board and to share his
expertise in corporate finance and restructurings," stated David Paterson. "I
look forward to working closely with Bruce and the Company's Board, Management
and creditors to move, as quickly as possible, towards a negotiated settlement
of claims and a comprehensive restructuring plan that will make AbitibiBowater
a stronger, more sustainable organization.'
Mr. Robertson recently served as Senior Managing Partner at Brookfield
Asset Management Inc. At Brookfield, he held a number of operational roles,
managing over $7 billion in North American distressed private equity, bridge
lending, and real estate finance strategies. In his capacity as a senior
executive of Brookfield, Mr. Robertson served on a number of private and
public boards. He holds a Bachelor of Commerce from Queen's University.
AbitibiBowater has obtained a court order in the U.S. authorizing the
appointment of Mr. Robertson.
More information about AbitibiBowater's restructuring process can be
found at www.abitibibowater.com or by calling toll-free 888 266-9280.
International callers should dial 503 597-7698.
AbitibiBowater produces a wide range of newsprint, commercial printing
papers, market pulp and wood products. It is the eighth largest publicly
traded pulp and paper manufacturer in the world. AbitibiBowater owns or
operates 23 pulp and paper facilities and 30 wood products facilities located
in the United States, Canada, the United Kingdom and South Korea. Marketing
its products in more than 90 countries, the Company is also among the world's
largest recyclers of old newspapers and magazines, and has third-party
certified 100% of its managed woodlands to sustainable forest management
standards. AbitibiBowater's shares trade over-the-counter on the Pink Sheets
and on the OTC Bulletin Board under the stock symbol ABWTQ.