Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today reported net income for the quarter ended September 30, 2016, of $14 million, or $0.15 per share, compared to a GAAP net loss of $6 million, or $0.07 per share, in the same period in 2015. Sales were $888 million in the quarter, down $17 million, or 2%, from the third quarter of 2015. Excluding special items, the company reported net income of $19 million, or $0.21 per share, compared to net income of $14 million, or $0.15 per share, in the third quarter of 2015.
Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced the selection of a state-of-the-art tissue machine for the project at its Calhoun mill, in Tennessee. Supplied by Valmet, the Advantage New Tissue Technology (NTT) machine will produce premium quality tissue products for the consumer market.
This machine is part of the previously announced $270 million project to build a facility to manufacture at-home, premium private label tissue paper, including bath and towel. Preparation work has begun at Calhoun, and the machine is expected to start making tissue in the first quarter of 2017.
“This is the first time we will produce products directly for the consumer market,” stated Richard Garneau, president and chief executive officer. “The selection of the Advantage NTT tissue machine is in line with our promise to retailers to install equipment that will offer the highest quality and the differentiation they seek for their store brands.”
The move into the tissue market represents an important step forward in Resolute’s corporate growth strategy, and the company will continue to evaluate opportunities to expand its presence in this growing market segment.