SAINT-FÉLICIEN, QC, May 14, 2018 (CNW) -Resolute Forest Products Inc. today announced a $52.3 million strategic investment plan for its Saint-Félicien pulp mill, located in the Lac-Saint-Jean region of Quebec. The announcement was made at a press conference attended by Quebec Premier Philippe Couillard, and many dignitaries and company employees.
"The significant investments at Saint-Félicien are expected to improve several areas of the operation, increasing the average daily production capacity by 76 metric tons and reducing greenhouse gas emissions from the use of fossil fuels by 20%," said Yves Laflamme, president and chief executive officer.
On April 30, 2018, Resolute announced a $13 million investment in its La Doré (Quebec) wood products facilities, also located in Lac-Saint-Jean. In 2016, the company inaugurated Toundra Greenhouse, located adjacent to the Saint-Félicien pulp mill, a $100 million joint venture project with local investors.
During today's press conference, Yves Laflamme thanked local employees, government officials, as well as regional academic and economic development organizations for their continued support and advocacy.
Resolute employs close to 240 workers at the pulp mill, and more than 2,000 in the Saguenay–Lac-Saint-Jean region.
The upgrades are expected to be completed by the end of 2019.
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 close to 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.