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NewPage’s financial stability aired at biomass project hearing in Nova Scotia

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NewPage’s financial stability aired at biomass project hearing in Nova Scotia

September 10, 2010 - 09:14
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HALIFAX, NS, Sept. 10, 2010 (Chronicleherald.ca) -Serious questions are being raised about the financial stability of one of Nova Scotia's largest employers.

NewPage Corp., the Ohio company that owns the pulp mill NewPage Port Hawkesbury, lost $174 million in the second quarter of its financial year, despite an increase in sales.

The parent company, which has undergone a major shakeup of its top executives, reported having $7 million in cash and $113 million available on a line of credit. But it also has a debt of $3.4 billion.

Chronicle Herald - NewPage mired in red ink, Papermaker's debt raised as major concern at URB hearing

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