Paper Excellence announces restart date of Powell River machine (mypowellrivernow.com)

Resolute Forest Products Inc. announced that its board of directors authorized the repurchase of up to $100 million or 10 million of the company's common shares, whichever occurs first. Repurchase transactions will be funded using the company's sources of liquidity. "Today's announcement follows recent completion of the share repurchase program announced in March 2020, under which we repurchased 11.5 million shares for $78.3 million, representing 15% of the outstanding shares," said Remi G. Lalonde, president and chief executive officer. "This new program will allow us to continue to act opportunistically to return capital to shareholders when conditions are right. We remain committed to a balanced approach to capital allocation, using our free cash flow to generate value for shareholders, build a stronger company and drive sustainable economic activity in the communities where we operate."

Overview • Q1 2022 reported operating income of $742 million driven by strong lumber segment results with near record-high North American lumber pricing and strong earnings for the Company’s European lumber operations • Shareholder net income of $534 million, or $4.29 per share • Completed acquisition of Millar Western Forest Products Ltd.’s (“Millar Western”) solid wood operations and associated tenure for $440 million, including net working capital • Announced $165 million (US$130 million) investment in the US South to significantly upgrade and expand Urbana’s sawmill and planer facility • Announced the implementation of a comprehensive plan to achieve net-zero carbon emissions by 2050

The approximately 240 workers of the factory accepted on Friday afternoon by 81.3% the solution hypothesis presented to both parties by the conciliator of the case in the general assembly. The company also accepted this proposal. The workers are happy with the result of today’s (Friday) meeting. Obviously, no one wanted to continue on the picket line, at least until winter. Daniel Bilodeau reacted on the line. The return to work will be gradual, starting September 18. Workers have been on strike since July 4. The company imposed this measure after a third production stoppage by employees.