Jul 27, 2007. /Lesprom Network/. Abitibi-Consolidated Inc. announced on July 26, 2007 that its shareholders have voted in favour of the combination of Abitibi-Consolidated and Bowater Incorporated. The vote on the plan of arrangement required to effect the combination occurred today at a special meeting of shareholders of Abitibi-Consolidated. Approximately 80% of the vote cast were voted in favour of the combination. In addition, no material amount of shares dissented from the transaction. "I am very pleased to see that our shareholders share the same perspective on the benefit of the proposed combination with Bowater. We believe AbitibiBowater will be a global leader with a brighter future than either company would have on its own," said John Weaver, president and CEO of Abitibi-Consolidated. "We believe the combination with Bowater, which is expected to generate annualized synergies of at least $250 million, will enhance financial flexibility, increase cash flow, and create a better opportunity to unlock future value." The combined company, which will be called AbitibiBowater Inc. will produce a wide-range of newsprint, commercial printing papers, market pulp and wood products. It will be the eighth largest pulp and paper manufacturer in the world. AbitibiBowater will own or operate 32 pulp and paper facilities and 35 wood products facilities located in the United States, Canada, the United Kingdom and South Korea. It will also be among the world's largest recyclers of newspapers and magazines, and a global leader in sustainable forest management through independent third-party certification.