AbitibiBowater Changing Name to Resolute Forest Products
Located in Montreal, AbitibiBowater 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," stated Richard Garneau, president and chief executive officer. "With our competitive cost structure, diversified revenue base and strong balance sheet, we are well-positioned for the long term."
The change follows an initiative, launched in April, in which employees were invited to suggest a new name for the company. An internal selection committee and the executive team chose Resolute Forest Products from among approximately 1,400 employee submissions.
"This identity change serves as an opportunity to reposition the company and to redefine ourselves with customers, shareholders and the communities in which we live and work," continued Garneau.
On Nov. 7, the company will begin using Resolute Forest Products and related visual identity on its marketing materials, website, signage and other communications. When communicating in French, the company will use the name Produits forestiers Résolu. Prior to the November launch, the company will continue to be referred to as AbitibiBowater.
While the company will be doing business as Resolute Forest Products as of Nov. 7, AbitibiBowater Inc. and its subsidiaries will not change their legal entity names until the company obtains shareholder approval as required by law. The company will seek formal shareholder approval at its 2012 Annual General Meeting.
For customers, suppliers and other stakeholders with whom the company interacts, little will change beyond how the company will refer to itself and its products. The company will operate "business as usual" with respect to invoicing, payments, contracts, company stocks and stock market listings. AbitibiBowater will work to ensure the transition to the new identity is as smooth and seamless as possible for all of its stakeholders.