May 13, 2005. /Lesprom Network/. Bowater Inc. announced Wednesday the company will invest $80 million in its Calhoun plant to shift some of its production capacity from newsprint to higher margin specialty grade paper. The company plans to convert approximately 200,000 metric tons of annual newsprint to focus on coated paper in the direct mail and related advertising markets. The project is expected to be completed in mid-2006. After the project is completed, the Calhoun site, which once produced 730,000 tons of newsprint annually, will produce 465,000 tons of specialty grades and 300,000 tons of newsprint.