AbitibiBowater said it has reached a deal with the Ontario government on pensions that will help the pulp and newsprint maker to emerge from bankruptcy.
The company, which reached a similar agreement with the Quebec government, will meet its future pension obligations to its beneficiaries in full.
AbitibiBowater employs 8,500 workers and has 20,000 pensioners in Ontario and Quebec.
In addition, an agreement was reached with Queen's Park to create AbiBow Canada, a Canadian subsidiary of the company's operations, post-bankruptcy.
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