Thursday, August 11, 2011

Cost Reduction Priority One

AbitibiBowater is looking at making more cost reductions to a company that has already seen deep cuts.

The company enjoyed a net profit of $61-million in the last quarter of this year.

But in a conference call to investors yesterday, CEO Richard Garneau says reducing costs remains at the top of the list.

Garneau says the company is still looking at $120-million on capital improvements at some of its mills.