Abitibi Vows more Cost-Cutting

AbitibiBowater is planning further cost cutting at some of its Canadian mills.

C-E-O Richard Garneau says with the Canadian dollar hovering around par with the U-S greenback, the company needs to have a similar cost structure on both sides of the border.

Garneau declined to identify the targeted mills or indicate how much more costly they are to operate than their U-S counterparts.