Resolute Forest Products Announces Availability of 2013 Annual Report

External sales of power produced by Resolute's four power generation assets reduced company costs overall by about $45 million in 2013.

April 16, 2014 - Today, Resolute Forest Products released its 2013 Annual Report, which also includes an overview of our 2013 sustainability performance. The report can be found online at resolutefp.com.

Resolute is a global leader in the forest products industry with a diverse range of products, including newsprint, specialty papers, market pulp and wood products. The company owns or operates over 40 pulp and paper mills and wood products facilities in Canada, the United States and South Korea, and power generation assets in Canada.

With annual revenues of $4.5 billion, Resolute has over 8,500 employees and markets its products in close to 90 countries.

This is the second year that sustainability performance information has been combined with the company’s annual financial disclosure, demonstrating our commitment to balancing environmental, social and economic priorities throughout our operations.

The report covers Resolute’s 2013 achievements and developments, including:

  • The Company made key investments at pulp and paper operations in Augusta (Georgia), Baie-Comeau and Saint-Félicien (Quebec), Coosa Pines (Alabama) and Grenada (Mississippi).
  • Resolute’s three investment projects in Northwestern Ontario continued to progress: the construction of a new sawmill at Atikokan; work related to the upgrade and restart of the idled Ignace sawmill; and the building of a wood pellet plant at the company’s Thunder Bay sawmill. These initiatives will create some 600 direct and indirect jobs, as well as important economic opportunities for First Nations in the region.
  • During the year, Resolute completed the ramp-up of four power generation assets, including the $65 million cogeneration facility in Thunder Bay. External sales of power produced by the four power generation assets reduced company costs overall by about $45 million in 2013.
  • Together, Resolute’s asset optimization and mill restructuring efforts reduced the company’s operational costs by $42 million compared to 2012.
  • Consistent with Resolute’s diversification strategy, through the 2012 purchase of Fibrek Inc., the company grew its pulp capacity by 70%.
  • 2013 was the company’s best safety year on record. We recorded an Occupational Safety and Health Administration (OSHA) incident rate of 1.02, which is considered world class.
  • The company is closing in, ahead of schedule, on the goal set as a member of the WWF Climate Savers program to reduce greenhouse gas (GHG) emissions by 65% by 2015, compared to 2000 levels. Resolute’s 65% goal is an industry-leading GHG reduction target and represents the equivalent of taking 1.57 million cars off the road.
  • Resolute is a strong advocate for partnering with First Nations. In fact, in 2013, the company’s Opitciwan (Quebec) joint-venture sawmill was awarded the Aboriginal Forest Products Business Leadership Award by the Forest Products Association of Canada and the Canadian Council for Aboriginal Business.
  • Workforce recruitment and retention is an ongoing priority for the company. Last year alone, Resolute hired over 900 new employees.

While sustainability performance is now included in the company’s annual report on an ongoing basis, we will continue to produce our more comprehensive and detailed annual sustainability report using Global Reporting Initiative (GRI) guidelines.

SOURCE: Resolute Forest Products