Our industry is in the midst of unprecedented change. Regional and global consolidation have affected every sector of the industry, with Bowater a key participant in North America and Asia. Over the past three years, we invested over $3 billion to acquire and enhance our newsprint production capacity. We are capitalizing on existing resources to convert our Catawba, South Carolina, newsprint machine to produce coated paper at significantly less cost than acquiring comparable facilities. We do our homework. We know our business and our industry. And, we move quickly and decisively when opportunity knocks. Bowater makes things happen.