Economy
On December 4, 2008, Abitibi Bowater released a statement concerning imminent closure of the pulp and paper mill in Grand Falls-Windsor, representing a cutback of 205 000 tons of paper. The mill produced its last roll of newsprint on February 12, 2009. The closure was effected due to exchange rate volatility, energy and fiber pricing, as well as structural challenges in the North American newsprint industry. At the time of closure, the paper mill was the second largest employer of the town.
Like most other communities in Newfoundland and Labrador, Grand Falls-Windsor has suffered from outmigration though the town's economy still remains strong.
Read more about this topic: Grand Falls-Windsor
Famous quotes containing the word economy:
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