Resolute Forest Products Inc. announced the signing of an agreement to acquire the assets of Tembec's sawmill located in Senneterre, Quebec. By adding the operations of the Tembec sawmill to those of the company's existing Senneterre sawmill, Resolute expects to improve the productivity of its facilities and optimize the related woodlands operations in the Abitibi and Nord-du-Québec regions. The transaction will be completed once all the conditions related to the purchase agreement are met to the satisfaction of the parties.
Due to recent cost changes and market conditions French Paper is announcing our first price increase since 3-3-14, over three and a half years. This increase consists of $5/cwt for Glo-Tone and $4/cwt across all other grades, with equivalent changes made among envelope items. All changes will apply to orders placed after December 15th.
Along with these pricing changes we have begun the discontinuation of our Mod-Tone grade and will sell remaining items as inventory is available.