SAINT JOHN, N.B. — Irving Paper Ltd. announced Monday it is shutting down half of its operations, blaming what it called “uncompetitive” industrial electricity rates in New Brunswick. The Saint John manufacturer of paper used for magazines, catalogues and newsprint said it is cutting 140 jobs effective immediately. Irving Pulp & Paper vice-president Mark Mosher […]
Irving Paper Ltd. has announced the closure of half its operations in New Brunswick, citing "uncompetitive" industrial electricity rates as the primary reason. This decision will result in the immediate loss of 140 jobs. Mark Mosher, Irving Pulp & Paper's vice-president, described the decision as difficult but necessary for the company's long-term sustainability. Irving Paper is collaborating with the provincial government to explore potential solutions, though a 10% electricity rate hike set to take effect in April complicates the situation. NB Power maintains that its rates for large industrial customers are competitive compared to other provinces. The government is also working with Irving Ltd., the parent company, to develop a financially sustainable plan to retain jobs. Irving Paper exports over 400,000 tonnes of paper annually to 65 countries, underscoring its significance to the province's forestry sector.
