Resolute Forest Products is cutting newsprint capacities. The company recently announced the closure of one of its newsprint machines at the Augusta mill.
The decision was motivated by the ongoing structural challenges in the newsprint market and the closure was necessary to avoid costly rotating downtime, according to Resolute. Resolute's newsprint division reported an operating loss of $5m in the first quarter of 2016.
The Augusta mill has two newsprint machines with a combined capacity of nearly 400,000 tpy. Around 250 people are employed at the site. Resolute produces newsprint at ten mills in North America and one in South Korea.
