21 July 2009
Fraser Papers gets creditor protection
TORONTO—Fraser Papers Inc., which filed for bankruptcy on June 16, has been granted creditor protection by an Ontario court until Oct. 16. PricewaterhouseCoopers Inc., the court appointed monitor, supported the extension.

A U.S. court granted similar protection earlier this week.

The court also authorized funding from the New Brunswick government that Fraser will use to modernize its lumber mill in Plaster Rock, N.B. The plant is expected to be completed by the fall.

Fraser Papers produces specialty packaging and printing, specialty high-bright groundwood, commodity freesheet and commodity groundwood papers, and towel, hardwood pulp and softwood lumber. It blamed weak pulp and lumber markets and low demand, as well as a pension-funding shortfall for the original bankruptcy filing.

The company has operations in New Brunswick, Toronto, Québec, Maine, and New Hampshire, and reported revenues of $688 million in 2008.

NEW ON THE JOB BOARD | RSS
CLASSIFIED | RSS
Company for sale
Company wanted
CLICK HERE to list your business opportunity in the printing industry
Most Recent News Comment
Started in a Trade Shop says:
Are Paul McCarthy and Paul McCathy the same person. More spelling mistakes from Print Can. Tsk Tsk...
North Island Publishing PrintCAN Print Jobs Canada’s Estimators' & Buyers' Guide MastheadOnline Print World 2010 Design City
Graphic Monthly Print Equipment gutenbergs' guide COPA industrial print