05:15:59 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 75,643,251
Close 2017-12-28 C$ 77.81
Market Cap C$ 5,885,801,360
Recent Sedar Documents

FP/wire say Resolute's duties to hit U.S. newspapers

2017-12-29 08:52 ET - In the News

See In the News (C-RFP) Resolute Forest Products Inc

The Financial Post reports in its Friday edition that as if the U.S. newspaper business did not have enough trouble coping with decades of lost readers and advertising dollars, an escalating trade dispute with Canada is poised to make every edition cost a lot more to publish. A Bloomberg dispatch to the Post says that newsprint prices have jumped since October to a three-year high and may keep increasing if, as expected, the administration of President Donald Trump slaps duties on imported paper from Canada next month. America's northern neighbour accounts for about three-quarters of what gets used in the U.S. The New York Times alone spent $72-million (U.S.) last year on newsprint. American lobbyists say companies like Resolute Forest Products have an unfair advantage. A group of more than 1,100 local newspapers was so alarmed about rising newsprint costs that it sent a letter to Commerce Secretary Wilbur Ross this month saying that the market is being upended by just one company, North Pacific Paper, known as Norpac. "This is really egregious," said Seth Kursman at Resolute Forest Products, the world's largest newsprint maker. "This is one company. The entire U.S. domestic industry is against them."

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