AbitibiBowater warns of possible legal action
Newsprint giant AbitibiBowater Inc. is warning of possible legal action against the Newfoundland and Labrador government after the province hastily passed legislation Tuesday to expropriate the company's hydroelectric assets, water and timber rights in Grand Falls-Windsor.
AbitibiBowater Inc. says it hopes to sell the bulk of its hydroelectric assets in Ontario by early next year in an ongoing effort to reduce its debt load and improve operational profitability.