Catalyst Paper trims loss to just $4.4 million in 2009

Catalyst Paper is saying that their "extraordinary cost reduction measures" allowed them to trim their company's losses for 2009, to just $4.4 million - down from a loss of $220 million in 2008.

"We bore the full brunt of a global recession and structural changes that are affecting demand for many of our products," Catalyst president Richard Garneau said in a news release Thursday. "The impacts were unrelenting in 2009.

"We overcame a very difficult year by taking extraordinary cost reduction measures and by adopting a leaner manufacturing operation better suited for a smaller paper market. We also took important steps to address liquidity and debt management."

Read more:

Catalyst Paper trims losses on 'extraordinary cost reduction measures' (The Vancouver Sun)