Juan Carlos Bueno

“As Rich noted, we are very pleased to have reached a restructuring support agreement with the majority of our bondholders and shareholders, as this agreement is a critical step in our comprehensive balance sheet restructuring that will equitize approximately $1.1 billion of debt and inject up to $400 million of new…”

“Our Q2 results were disappointing with both our pulp and solid wood segments reporting negative EBTA. These results were driven by extremely high German fiber costs and a delayed recovery in pulp prices.”

“Our Q1 results were positively impacted by reduced plant maintenance, but were partially upset by higher fiber costs and reduced production due to European fiber constraints.”

“Our operating results continue to be undermined by significant market handwinds. The ongoing down cycle conditions forced us to recognize non-cash asset impairments, including a write-down of our Peace River Mills fixed assets.”

“This quarter's operating results were disappointing, mainly due to trade uncertainty, which created significant industry headwinds such as China increasing its paper exports to Europe, thus negatively impacting European paper producers.”