12:18:13 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Resolute Forest Products Inc
Symbol RFP
Shares Issued 90,425,108
Close 2018-07-06 C$ 13.59
Market Cap C$ 1,228,877,218
Recent Sedar Documents

Resolute says U.S. revokes duty on specialty paper

2018-07-06 17:14 ET - News Release

An anonymous director reports

UNITED STATES DEPARTMENT OF COMMERCE ANNOUNCES TERMINATION OF SUPERCALENDERED PAPER CVD ORDER

The U.S. Department of Commerce is formally revoking the countervailing duty order on supercalendered (SC) paper from Canada, retroactive to Aug. 3, 2015. Collection of cash deposits on imports of SC paper from Canada will cease, and all cash deposits that have been collected from importers of record since Aug. 3, 2015, will be returned with interest. Amounts herein are in U.S. dollars.

Resolute Forest Products Inc.'s cash deposits as of June 30, 2018, total $60-million. The company will also receive accumulated interest on these deposits. The precise timing of the refund will be set out in a federal register notice to be published in the coming days.

Revocation of the countervailing duty order is pursuant to issuance today of a final determination in the changed circumstances review that the department initiated on May 14, 2018. The department initiated the changed circumstances review after Verso Corp., the principal remaining producer of SC paper in the United States and the only remaining petitioner, wrote to Commerce Secretary Wilbur Ross on March 21, 2018, that it was no longer interested in the continuation of the countervailing duty order. All other interested parties in the SC paper proceedings, including the federal and provincial governments in Canada, notified the department that they supported Verso's request for a changed circumstances review.

About Resolute Forest Products Inc.

Resolute Forest Products is a global leader in the forest product 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 about 40 manufacturing facilities, as well as power generation assets, in the United States and Canada. Resolute has third party certified 100 per cent of its managed woodlands to internationally recognized sustainable forest management standards.

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.

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