Metso Paper.METSO PAPER, Helsinki, Finland reports settlement of a claim resulting from a project at the Papiers Gaspesia mill in Quebec, Canada. In 2002, Metso Paper received an order for a rebuild of an extensive printing and writing paper line from Papiers Gaspesia in Chandler, Quebec The port of Chandler was founded in 1912 when Percy Milton Chandler, a Philadelphia manufacturer, built the first pulp and paper mill in the Gaspésie at the site. This city of 7914[1] is the birthplace of NHL player Mathieu Garon. , Canada. A mid 2004 completion was planned for the project, but it was stopped in 2004 for financing reasons. Metso Paper's accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying were consequently written off by EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 15 million (US$ 17.7 million), included in 2004 financials. In an October 2005 arrangement, the Papiers Gaspesia mill will be transferred to the development company owned by the city of Chandler. Part of the arrangement says the previous owners of Papiers Gaspesia will pay creditors and the city a part of the liabilities and expenses. Metso, with no remaining obligations to the project, received a lump sum Lump sum A large one-time payment of money. EUR 4 million (US$ 4.7 million) payment, which will improve operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. during the last quarter of 2005. |
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