NLIS 1
April 4, 2000
(Forest Resources and Agrifoods)

Capital investment in 2000 by Corner Brook Pulp and Paper

I would like to take this opportunity to inform the house of the significant contribution being made to the pulp and paper industry and the economy of this province by Corner Brook Pulp and Paper Limited.

Corner Brook Pulp and Paper, through its capital expenditure initiatives, invests millions of dollars each year into its Corner Brook paper mill and its woodlands operations throughout the province. The company will be undertaking a number of major capital investment projects once again in 2000. It is expected that this investment will be in the vicinity of $28 million.

There were a number of capital investment projects started last year which will be completed in 2000. This work will total approximately $6.6 million and includes major quality improvements to the #7 paper machine. This one undertaking alone will see an investment of $6.0 million.

In addition, the company will begin several new projects in 2000 with an investment of approximately $22 million. This new work will consist of paper machine upgrades, environmental improvements and woods road construction.

It is also worth noting that Corner Brook Pulp and Paper woodlands division, along with other operating divisions is currently in the process of implementing an Environmental Management System (EMS) in an effort to improve their environmental performance. The woodlands division and the paper mill are currently updating the system to conform to the ISO 14001standard. ISO 14001 is an international standard recognized around the world. This is a clear illustration of Corner Brook Pulp and Paper�s commitment to protecting the environment.

This effort to improve, expand and create new infrastructure allows Corner Brook Pulp and Paper to continue to produce a high quality product for its customers throughout the world.

The capital investment made by Corner Brook Pulp and Paper provides a significant economic boost to a number of communities throughout the province, particularly those in rural areas of the province whose viability is dependent on a healthy pulp and paper industry.

This $28 million capital investment does not just represent an investment into the economy. It demonstrates a commitment by Corner Brook Pulp and Paper toward advancing the pulp and paper industry in this province. Government commends their continued efforts in this regard and looks forward to working with Corner Brook Pulp and Paper into the future to support this province�s forest industry.

2000 04 04                                                                     1:50 p.m.