Bowater mill closing indefinitely in Nova Scotia due to falling paper prices

June 15, 2012 - 8:50 AM

BROOKLYN, N.S. - Resolute Forest Products (TSX:RFP) says a struggling paper mill on Nova Scotia's south shore will be closed indefinitely.

The company says the Bowater Mersey facility in Brooklyn will be idled starting on Sunday.

The company says the mill is unable to compete due to declining prices in export markets.

In December, Nova Scotia Premier Darrell Dexter announced a $25-million forgivable loan to the firm in $5-million yearly portions.

He said on Thursday that the money hasn't been spent yet.

The company says about 320 workers at the mill and associated woodlands will be affected by the indefinite shut down.

News from © The Canadian Press, 2012

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