Weyerhaeuser wins cost dispute over mill
Weyerhaeuser has won a dispute over a wood pulp and paper facility, which the forest products giant purchased from Canadian wood products company Bowater in 1998.
Bowater was ordered to pay Weyerhaeuser $42 million in the dispute. The two companies had argued over environmental cleanup issues at the site.
"Although we disagree with the arbitrators' decision and are disappointed with this result, this matter is now behind us," said David Paterson, Bowater chairman and CEO.
Bowater will take a charge of about $27.7 million in the third quarter as a result of the claim, according to the company.