20:12:51 EDT Fri 19 Apr 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

FP/CP say Resolute off hook for specialty-paper duties

2018-07-09 09:30 ET - In the News

The Financial Post reports in its Saturday edition that the U.S. Department of Commerce has ended countervailing duties on supercalendered paper from Canada that have been in place since 2015. A Canadian Press dispatch to the Post says that the move comes after Verso Corp., the main U.S. producer of the glossy paper stock, told the U.S. Commerce Secretary in March that it was no longer interested in continuing with the duties following a settlement with some Canadian producers. The Department of Commerce said Friday that the final results of a review sparked by the settlement mean it will retroactively revoke the duties to their start date in August, 2015, and will repay companies with interest. Nova Scotia-based J.D. Irving issued a statement saying it appreciates the "hard work" of Foreign Affairs Minister Chrystia Freeland in achieving what it called the positive result. Resolute Forest Products said it was "pleased" the duties would be lifted. The company said it had paid $60-million in cash deposits from the duties and expects to know the timing of its refund in the coming days. The end of duties is a rare bright spot for Canada in an environment of increasingly protectionist actions from the United States.

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