In 2000, Bowater once again demonstrated its commitment to excellence. We acquired one of North America’s best newsprint mills, located in Mississippi. We initiated a $100 million profit improvement program. We announced plans to convert a newsprint machine in South Carolina to produce coated groundwood papers, to expand our Michigan coating facility and to build two additional facilities to convert newsprint capacity to coated grades. And, Bowater’s total return to shareholders was among the best of North America’s forest products companies.

Bowater’s reputation as a premier forest products company is built on a foundation of strong core values. We are focused on our customers and committed to building value for our shareholders. We relentlessly pursue operating efficiencies and constantly search for and seize opportunities. We are dedicated to financial discipline. Our experienced management has a proven track record and leads a global team dedicated to superior performance.