Bowater Incorporated and PaperExchange.com Announce Internet Sales Agreement for Newsprint and Strategic Investment.Business Editors GREENVILLE, S.C.--(BUSINESS WIRE)--April 6, 2000 Bowater Incorporated (NYSE NYSE See: New York Stock Exchange :BOW), the largest newsprint producer in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and PaperExchange.com, Inc., a leading independent global e-business marketplace for the pulp and paper industry The global pulp and paper industry is dominated by North American (United States, Canada), northern European (Finland, Sweden) and East Asian countries (such as Japan). Australasia and Latin America also have significant pulp and paper industries. , today announced the signing of agreements under which Bowater will offer newsprint for sale over the Internet on the PaperExchange.com web site. Sale of newsprint via the Internet is expected to complement Bowater's existing sales channels, which focus on direct customer contact and high levels of service. Bowater and PaperExchange.com have also agreed to integrate their information systems with the goal of eventually giving customers a seamless interface, via the Internet, to Bowater's production and distribution systems. In addition to sales of newsprint, Bowater will have the option of offering other products for sale on the PaperExchange.com web site, and can also purchase raw materials and equipment on the site. Bowater will initially concentrate its Internet sales efforts for newsprint with PaperExchange.com. "The Internet provides a means of speeding communications and order flow through rapidly improving business systems and new technology. Bowater is committed to the highest level of customer service - from the initial order through to the pressroom - and to enhancing service by use of the Internet. PaperExchange.com is the clear leader in providing an efficient marketplace for pulp and paper products and integration with a strong customer service linkage. PaperExchange.com is the logical choice as a strategic partner to help Bowater meet our E-commerce goals," said Arnold Nemirow, Bowater's Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . In connection with the strategic alliance, Bowater is also making an equity investment in PaperExchange.com. "Our investment in PaperExchange.com underscores Bowater's commitment to the establishment of an Internet market channel and the use of the Internet to enhance customer service," Mr. Nemirow added. Kent A. Dolby, CEO and President of PaperExchange.com said, "We are pleased to have a strategic alliance with one of the leading newsprint companies in the world. Bowater's focus on customer satisfaction is a perfect fit with our strategy. Our commitment to an open marketplace means that all customers and members will benefit from purchasing efficiency and the synergies of using standard integration tools." About Bowater Bowater Incorporated, headquartered in Greenville, SC, is a global leader in newsprint. In addition, the company makes coated and uncoated groundwood papers, bleached kraft pulp and lumber products. It has eight pulp and paper mills in the United States, Canada and South Korea. The company also owns and operates a coating operation and three sawmills that produce softwood dimension lumber. These operations are supported by 1.8 million acres of timberlands owned or leased in the United States and Canada and over 14 million acres of timber cutting rights in Canada. The company is one of the world's largest consumers of recycled newspapers and magazines. Bowater common stock is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , U.S. regional exchanges and the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . A special class of stock exchangeable into Bowater common stock is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BWX). About PaperExchange.com PaperExchange.com is a leading global e-business market place for the pulp and paper industry. A global e-business trading tool designed by the paper industry for the paper industry, PaperExchange.com has members in more than 80 countries. All paper is bought and sold by members through private, secured transactions Business dealings that grant a creditor a right in property owned or held by a debtor to assure the payment of a debt or the performance of some obligation. A secured transaction is a transaction that is founded on a security agreement. . PaperExchange.com does not share its member list or transaction information. The proven PaperExchange.com model delivers new levels of efficiency, convenience, choice and flexibility to the pulp and paper industry. PaperExchange.com today generates complete transactions in all major grades of paper. PaperExchange.com is headquartered in Boston, Massachusetts “Boston” redirects here. For other uses, see Boston (disambiguation). Boston is the capital and most populous city of Massachusetts.[3] The largest city in New England, Boston is considered the unofficial economic and cultural center of the entire New , U.S.A. For more information, visit the website at http://www.paperexchange.com or call 617-536-4310. Statements in this news release that are not reported financial results or other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. They include, for example, statements about our business outlook, assessment of market conditions, strategies, future plans, future sales, prices for our major products, inventory levels, capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. and tax rates. These forward-looking statements are not guarantees of future performance. They are based on management's expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. The risks and uncertainties relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the forward-looking statements in this news release include those described under the caption "Cautionary Statement Regarding Forward-Looking Information" in Bowater's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999, and from time to time, in Bowater's other filings with the Securities and Exchange Commission. |
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