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As AbitibiBowater, North America’s Largest Newsprint Producer, Fights To Avoid Becoming Another Bear Stearns, Norway’s Norske Skog Announces More Cutbacks, US Newspaper Groups Brag At Huge Newsprint Usage Declines, And China Ramps up Newsprint Production and Exports
Philip M. Stone March 18, 2008
The merger of Abitibi and Bowater last October was supposed to form North America’s largest newsprint producer that could, with the cost savings a merger between two such giants should produce, finally get the upper hand on production and pricing. Instead its shares are down nearly 70% so far this year, off 15% alone on Monday because the markets don’t think its recently announced $1.4 billion refinancing plan will fly.

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