Over the past year, we have seen a significant deterioration in the price of newsprint. We now believe that conditions have sufficiently improved to begin the process of recovery.
Accordingly, we are announcing today a newsprint price increase of $40/metric tonne (for 48.8 gsm). The increase will be phased in beginning with a $20/metric tonne hike effective with shipments on or after January 1, 2016 followed by a second increase of $20/metric tonne effective with shipments on or after February 1, 2016. Other basis weights will be adjusted as per past practices.
Please note that this price increase is independent of the recent price increase announcement from Ponderay Newsprint Company.