News release from 1990 announcing the closing of the Mont-Rolland plant

[Translation]

Montreal, August 21, 1990 – Mont-Rolland plant to close permanently

Today, Rolland Inc.’s board of directors decided to close the Mont-Rolland paper mill, which has recorded an operating loss of $15.6 million since 1987. The decision is due to excess capacity and unfavourable market conditions in the industry.

The plant’s closure will result in the loss of 142 jobs in Mont-Rolland, and approximately 50 other Company positions. Most of the paper categories made at the Mont-Rolland plant will be produced at other Company facilities.

Employees affected by the decision will be offered severance pay and job search assistance.