Resolute Invests In Wood Products Operations

Resolute Forest Products Inc. will invest $50 million in its wood products operations to support its continued growth. The investment is slated to make improvements in three key regions for the company: the Abitibi in Quebec, northwestern Ontario, and the southeast U.S. The company will invest $22 million to modernize equipment at the Senneterre, QC, sawmill, which will enhance overall efficiency and productivity of the Abitibi regional operations; $13 million at the Thunder Bay/Fort William First Nation, ON, sawmill to increase capacity by up to 40 million board feet with new equipment and modifications to the fibre flow; and $15 million at the Glenwood, AR, and Cross City, FL, sawmills to support fibre optimization and overall efficiency. The Cross City investment will also increase capacity by up to 20 million board feet. Each of these projects will serve to generate additional value from Resolute's wood products segment across market cycles. The improvements at the U.S. sawmills build on the previously announced investments associated with the restart of the El Dorado, AR, sawmill. The company anticipates completing all the projects by the end of the third quarter of 2022.