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Fraser Papers reports Q3 loss of $10 million

Fraser Papers Inc. announced Monday it had generated an EBITDA loss of $10 million in the third quarter, compared to a $9.9 million EBITDA loss in the second quarter. The net loss in the third quarter was $65.1 million, or $1.30 per share, compared to a loss of $8 million, or $0.16 per share in the previous quarter. Fraser, which is currently under creditor protection, recorded a third-quarter impairment charge of $42.3 million on its Thurso, Que., pulp mill which has been closed indefinitely since June 5. The company expects to file a restructuring proposal with its secured creditors and the court before ist protection expires on Dec. 4.