Corner Brook makes fresh investments

North America

Corner Brook makes fresh investments

14 December, 2020

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Canadian firm secured funding from local authorities.

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The vice-president and general manager of Corner Brook Pulp and Paper says the mill has gotten off to a great start with the long-term sustainability plan facilitated by a $110-million loan from the provincial government.

Kruger, the paper mill's Montreal-based parent company, and the provincial government signed the financial agreement to help the mill back in February.

Ric Tull said the money has been used to restructure the mill's debt and three capital works projects have been started or finished so far this year with a fourth is about to commence.

He would not discuss the breakdown of just how much went towards making the paper company's debt financing more competitive, but said securing the debt was an integral part of moving ahead with the sustainability plan.

North America