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Article: EXECUTIVE BUSINESS BRIEFING
- Article from:
- United Press International
- Article date:
- December 18, 2002
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Executive Business Briefing
Dec 18, 2002 (United Press International via COMTEX) -- Here is a
look at more of Wednesday's top business stories:
Bowater cuts 500 jobs, sells some timberland
GREENVILLE, S.C., Dec. 18 (UPI) -- Bowater Inc., North America's second-
largest newsprint maker, said it will cut 500 jobs and sell 240,000
acres of timberland, in a round of cost cuts aimed at coping with
weak demand for newsprint and pulp.
The moves are expected to cut the company's annual costs by $75 million
and permanently remove about 100,000 metric tons of annual newsprint
capacity in 2003.
The company said it expects to take a fourth-quarter 2002 charge of
$13 million for ...