The name change is designed to “reflect the fundamental characteristics of the company as we see it today,” according to Richard Garneau, president and chief executive officer.
“With our competitive cost structure, diversified revenue base and strong balance sheet, we are well-positioned for the long term.”
In a letter to customers, Garneau said “little will change beyond how the company will refer to itself and its products.”
The company identity change follows an initiative, launched in April 2011, in which employees were invited to suggest a new name for the company. An internal selection committee and the executive team chose Resolute Forest Products from among approximately 1,400 employee submissions.
On Nov. 7, the company will begin using Resolute Forest Products and related visual identity on its marketing materials, website, signage and other communications. When communicating in French, the company will use the name Produits forestiers Résolu. Prior to the November launch, the company will continue to be referred to as AbitibiBowater.
The Resolute Forest Products logo calls to mind the forest in which the company works, the paper and lumber products it manufactures, and the modern and dynamic nature of the organization, Garneau said.
Paper products are reflected in the half-circle of the “R,” symbolizing a paper roll, as well as in the folds within the logo. The rectangular and triangular shapes, in the legs of the “R,” represent wood products and forestry. Through the use of green as a primary color, the design also depicts the company’s determination to be a profitable business, committed to sustainability.
Before the name can legally be changed, AbitibiBowater Inc. must seek formal shareholder approval. The consent will be sought in the 2012 annual General Meeting of Shareholders.