$355 Million Loss for Abitibi

Abitibi Consolidated has posted a fourth quarter loss of $355-million.
President John Weaver says the few write downs the company had were
due to the permanent closures of the Kenora and Stephenville, Newfoundland
Mills.
Weaver adds some of the costs to operate the idled mills were offset
by a $53-million sale of timberland near Thunder Bay.
Meanwhile, Abitibi has not decided what it plans to do with the Kenora
Mill property.