Abitibi-Consolidated confirms receipt of softwood lumber duty deposits
Nov 17, 2006. "We are pleased to have the contentious softwood lumber dispute behind us. The refunded deposits will be targeted to debt reduction," said John Weaver, President and CEO.
Nov 17, 2006. /Lesprom Network/. Abitibi-Consolidated Inc. confirmed receipt of approximately $225 million, pertaining to softwood lumber duty deposits made by the Company since 2002. The funds were transmitted to the Company through an agreement with the Export Development Corporation (EDC) of Canada.
Additionally, over the next few weeks, the Company anticipates receiving approximately $10 million of refunded deposits associated with business partnerships, representing a total refund of approximately $235 million.
"We are pleased to have the contentious softwood lumber dispute behind us. The refunded deposits will be targeted to debt reduction," said John Weaver, President and CEO.