In addition to the previously announced Advantage NTT tissue machine, the company has committed to the purchase of the new Futura Andromeda converting technology and Infinity packaging solution. The selection of the state-of-the-art equipment followed a rigorous process to ensure best-in-class flexibility and ability to deliver the highest quality products for the premium quality consumer market.
On June 1, 2015, the company unveiled a $270 million investment in a new facility that will manufacture at-home, premium private label tissue paper, including bath and towel. The operation is expected to begin producing tissue in the first quarter of 2017.
"This completes the selection of major equipment and finalizes the first step in delivering the highest quality product to retail customers for their store brands," stated Richard Garneau, president and chief executive officer.
The move into the tissue market represents an important step forward in Resolute's growth strategy, and the company will continue to evaluate opportunities to expand its presence 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 newsprint, specialty papers, market pulp and wood products. The company owns or operates some 40 pulp and paper mills and wood products facilities in the United States, Canada and South Korea, and power generation assets in Canada. Marketing its products in close to 80 countries, Resolute has third-party certified 100% of its managed woodlands to at least one of three 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 and other member companies of the Forest Products Association of Canada, as well as a number of environmental organizations, are partners in the Canadian Boreal Forest Agreement. The group works to identify solutions to conservation issues that meet the goal of balancing equally the three pillars of sustainability linked to human activities: environmental, social and economic.
Resolute is proud to be ranked by Corporate Knights as one of Canada's Best 50 Corporate Citizens for 2014. The company and Richard Garneau, president and chief executive officer, have been named to Canada's 2015 Clean50, and Resolute was also awarded The New Economy magazine's global Clean Tech Award for best forestry and paper solutions.