|Day's Range||4.25 - 4.65|
|52 Week Range||3.70 - 6.75|
|PE Ratio (TTM)||-3.26|
|Earnings Date||May 4, 2017 - May 8, 2017|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||4.63|
Resolute Forest Products Inc. (RFP) recently announced that it would be shutting down a paper machine at its plant in Catawba, S.C.
Resolute Forest Products (RFP) will idle a paper machine at its plant in Catawba, S.C., on June 30, resulting in the layoff of about 180 workers. The Canadian company said the decision to shut down the machine at its pulp and paper mill is driven by an ongoing market decline as well as "price erosion for lightweight coated paper grades produced on the machine." It comes after a "significant capital investment and employee efforts" to cut down the machine's operating costs. In addition to the job cuts, the York County mill will lose about 193,000 metric tons of coated paper production capacity.
Canada will give C$867 million (US$642.22 million) in aid to the softwood lumber industry after the United States imposed duties on exports and is prepared to offer more help in future, the government said on Thursday. Washington in April imposed preliminary anti-subsidy duties averaging 20 percent on imports of Canadian softwood lumber. U.S. producers say the exports are unfairly subsidized, a charge Canada strongly denies.