Decision On Paper Mill Expected Soon - KTRE.com | Lufkin and Nacogdoches, Texas

07/28/05 - Lufkin

Decision On Paper Mill Expected Soon

After an in-depth review, Abitibi has released its second quarter results.

The paper mill reported a second quarter loss of 43 million dollars or nine cents a share. This compares to a loss of 79 million dollars or 18 cents a share recorded in the second quarter of 2004.

Included in the quarter's results were a loss of 47 million dollars on the translation of foreign currencies, a three million dollar financial expense for premiums paid on early debt retirement, and a one million dollar expense for the labor force reduction.

Abitibi is still exploring several alternatives to re-launch the Lufkin paper mill as a coated groundwood producer. A decision is expected by the end of the year.

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