The world's largest newsprint producer is reeling from a combination of the global economic slowdown and the gradual decline in demand for print newspapers.
The company, headquartered in Montreal, Quebec, emerged from bankruptcy in late 2010, wiping out former shareholders under its reorganization agreement. Since then, AbitibiBowater has worked steadily to turn the company around, but it remains to be seen if and when its efforts will pay off.
In December, the company replaced its CEO with Richard Garneau, who said AbitibiBowater would focus on diversifying the business away from North America's shrinking newspaper industry. The company has already tapped into markets in South America and India, where demand for print newspapers is growing.
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