More details on the Abitibi Consolidated and Bowater
merger will be announced this morning, after the two
forestry giants decided to combine their efforts to become
the third Largest Paper & Forest Products Company In North
America, and the 8th largest in the world.
The combined company, will be called AbitibiBowater
and will have annual revenues of approximately $9.3
billion dollars Canadian.
The merger will better position the company to meet it’s
changing customer needs and compete more effectively in an
increasingly global market.
The headquarters and executive office will be in
Montreal, with a U.S. Regional Manufacturing and a sales
office in Greenville.
Abitibi Consolidated President and C.E.O. John W. Weaver
will be the company’s executive chairman, while David
Patterson from Bowater will act as President.
A press conference on the stock swap deal will be held
online at 8 our time.
