Unionized workers at a financially strapped paper mill on Newfoundland's west coast have voted to accept changes to their pension plan.
Montreal-based Kruger Inc., owner of Corner Brook Pulp and Paper, said in a statement Friday the changes are "essential" to the mill's competitiveness. The approval gives the company 10 years instead of five to pay back a pension deficit.
Kruger said the way is now clear for the company to present a sustainability plan to its lenders and the Newfoundland and Labrador government within the coming weeks.
More than 900 former and current employees were eligible to vote on the changes to the pension plan.
