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Paper Maker Resolute Tumbles After Lower Prices Worsen Loss

  • Forest products have `not been spared' from commodity downturn
  • Raising North American newsprint prices first time in 6 years
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Resolute Forest Products Inc., a Canadian pulp and paper producer, plunged the most in at least five years after posting a wider-than-expected fourth-quarter loss following a decline in lumber and newsprint prices.

"The forest products industry has not been spared from the cyclical downturn in global commodities,” Chief Executive Officer Richard Garneau said in a statementThursday.