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Abitibi-Consolidated merges with Bowater Incorporated

Paper recycler and waste management firm Abitibi-Consolidated and US paper producer Bowater Incorporated have merged to form AbitibiBowater. Following the merger, AbitibiBowater will own or operate 31 pulp and paper facilities and 35 wood products facilities located in the US, Canada, the UK and South Korea. AbitibiBowater expects to achieve annual synergies of at least $250 million within two years from improved efficiencies in such areas as production, selling, general and administrative ...