The hottest newsprint manufacturer in the world wi

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At 23:50 p.m. Beijing time on Thursday, abitibiwater Inc. (ABH), the world's largest paper manufacturer, announced that it plans to close at least four paper mills with sustainability of materials and products or idle, and cut 1100 jobs to cope with the decline in demand

due to the deterioration of the newspaper operating environment and the decline in paper demand, the company's customer base is shrinking. So far this year, the stock has fallen by about 97%

David Paterson, CEO of the company, said in a statement: the North American paper market continues to shrink, and customers in the region have told us that they expect demand to decline further. International customers have also hinted that the export growth rate will decline in the coming year

a spokeswoman for the company said that about 800 jobs would be permanently cut, and about 300 jobs would be cut indefinitely. Abitibibowater will permanently close its paper mill in Grand Falls, Newfoundland before the end of the first quarter of next year, and permanently close its paper processing plant in Covington, Tennessee before the end of this month. These two actions will result in approximately US $180million of non cash assets to enhance the level of process equipment impairment expenses in the fourth quarter

the company will also immediately idle its paper mills in Alabama River, Alabama, and two paper mills in Calhoun, Tennessee. On the basis of circulation, the company will idle about 20000 metric tons of paper capacity every month until the market environment improves

Patterson said that step 3 of G: This is a test on HP's high-pressure jet fusion 3D 4200 equipment. The closure of Rand falls factory is due to the decline in paper demand and high transportation costs, despite its unremitting efforts and negotiations with the government and trade unions

the idle Calhoun paper mill is due to the decline in demand for products produced by these factories and the uncompetitive cost structure of power suppliers in the southern United States. By the end of 2008, the company will cut a total of 1million metric tons of production capacity to save $375million in costs. The company will also cut sales, general and administrative expenses by 20% next year to achieve another $60million in cost savings

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