Fraser Papers workers agree to pay cut

Fraser Paper's unionized workers at the Madawaska paper mill in Maine have agreed to a 8.5% wage cut.

The new three-year labour agreement was ratified by United Steelworkers Locals 291, 365 and 1247.

"The agreement reached last night represents another step forward toward a successful but difficult restructuring of our specialty papers business," said Peter Gordon, Chief Executive Officer of Fraser Papers. "We want to recognize our employees, who have recommitted to our business through this contract, as well as those who were directly involved in reaching this agreement in challenging circumstances. We also want to express appreciation to our customers and suppliers for their continued support."

Source: Fraser Papers