Resolute Forest Products Inc
) entered into a framework agreement with the Quebec government
for the renewal of water power leases for certain generating
stations in Quebec's Saguenay-Lac-Saint-Jean region along with
the consolidation of some of its facilities.
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The agreement will increase the timber supply for the La Doré and
Saint-Félicien (Quebec) sawmills and consolidate its operations
in the region. The Quebec government has also granted 150,000
cubic meter volume of wood for carrying out economic development
projects to the Aboriginal community of Mashteuiatsh.
To ensure the economic development projects of First Nations
community, the additional volume will give these sawmills the
required wood supply to maintain their operations. With the
consolidation of Quebec facilities, the sawmill operations are
likely to improve and create more employment opportunities.
Headquartered in Montreal, Canada, Resolute Forest operates over
40 pulp and paper mills and wood products facilities in the
United States, Canada and South Korea, and power generation
assets in Canada. It offers a diverse range of products,
including newsprint, commercial printing papers, market pulp and
wood products Also, the company sells pulpwood, saw timber, and
wood chips and recycles newspapers and magazines .
The company continues to grow its businesses with acquisitions
and investment commitments and optimizing paper assets to
maximize its capacity utilization and margins.
Resolute Forest currently has a Zacks Rank #1 (Strong Buy). Other
stocks that look promising and are worth a look include
) carrying a Zacks Rank #1 (Strong Buy) and C
learwater Paper Corp.
Fibria Celulose SA
), both carrying a Zacks Rank #2 (Buy).