Resolute Forest Products Inc. reported a net loss for the quarter ended March 31, 2016, excluding special items, of US$18 million, almost equal to the net loss, excluding special items, of US$19 million in the same period in 2015. Sales were $877 million in the quarter, down $43 million, or five per cent, from the first quarter of 2015.
The company also announced the permanent shutdown of one newsprint machine at its Augusta, Georgia facility. In a statement, Resolute says the decision is motivated by ongoing structural challenges in the newsprint market and “is necessary to avoid costly rotating downtime.”
