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Abitibi changes name

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MONTREAL—AbitibiBowater Inc., Canada’s largest newsprint producer, says it will change its name to Resolute Forest Products, effective Nov. 7.

“We are changing our name to Resolute Forest Products to better reflect the fundamental characteristics of the company we are today, including our determination, strength, and resolve to be a profitable, sustainable organization,” president and CEO Richard Garneau said in a release yesterday.

“With our competitive cost structure, diversified revenue base, and strong balance sheet, we are well-positioned for the long-term,” he added.

The name was chosen from among 1,400 employee submissions for a new corporate identity for the Montreal company.

When communicating in French, the company will use the name Produits forestiers Resolu.

AbitibiBowater and its subsidiaries won’t change their legal names until it gets shareholder approval at the company’s annual meeting next year.

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