Economic difficulties affected the lumber and pulp and paper industry and the local factory was sold a number of times. In 2007, Bowater had a debt of $7 billion and merged with Abitibi-Consolidated. The merger was to sell off Abitibi's assets and close its mills for liquidity to settle Bowater's debt.
Economic difficulties affected the lumber and pulp and paper industries, leading to the factory being sold multiple times. In 2007, Bowater had a $7 billion debt and merged with Abitibi-Consolidated. The merger was intended to sell off assets and close mills for financial reasons to settle Bowater's debts.