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Resolute Forest celebrates end of paper duty order

Published 07/06/2018, 06:47 PM
© Reuters.  Resolute Forest celebrates end of paper duty order
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  • Montreal-based Resolute Forest Products (NYSE:RFP) says it's "pleased" to say that the U.S. Commerce Dept. has revoked a countervailing duty order on supercalendered paper from Canada.
  • That means an end to collections of cash deposits on imports of that paper from Canada -- and with the move retroactive to Aug. 3, 2015, cash deposits will be returned with interest.
  • The company says its cash deposits total $60M, which it will receive along with accumulated interest.
  • The move came after Verso (NYSE:VRS) -- the last petitioner, as the principal remaining producer of SC paper in the U.S. -- said it was no longer interested in continuing the duty order.
  • Now read: International Paper Co.: A Long-Term Winner, Set To Disappoint In Q2?


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