Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced that an agreement in principle has been reached between Unifor and the Corporation. The agreement in principle must be submitted to the members of the union for ratification and provides for the collective agreement to be renewed for four years.
The master agreement covers eleven of Resolute's Canadian pulp and paper mills. The agreement in principle applies to the following mills in Quebec: Amos, Baie-Comeau, Dolbeau, Gatineau, Kénogami,Laurentide, and Saint-Félicien, and to the mills in Fort Frances, Iroquois Falls, Thorold, and Thunder Bay, in Ontario.
"We are satisfied that we have reached an agreement in principle with the Unifor executive that is focused on the future," said the President and CEO, Richard Garneau. This agreement allows Resolute to continue productivity improvements and also to offer our employees good working conditions in several regions of Quebec and Ontario."
The collective agreement covers approximately 2,000 employees represented by Unifor. The agreement in principle provides for wage increases in each of the four years and continues the partnership with the union on efficiency and employee safety. The eleven establishments account for over 41% of Resolute's total pulp and paper capacity.
About Resolute Forest Products
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including newsprint, specialty papers, market pulp and wood products. The Company owns or operates nearly 40 pulp and paper mills and wood products facilities in the United States, Canada and South Korea, and power generation assets in Canada. Marketing its products in close to 90 countries, Resolute has third-party certified 100% of its managed woodlands to at least one of three internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.
Resolute and other member companies of the Forest Products Association of Canada, as well as a number of environmental organizations, are partners in the Canadian Boreal Forest Agreement. The group works to identify solutions to conservation issues that meet the goal of balancing equally the three pillars of sustainability linked to human activities: environmental, social, and economic.