This article examines the financialization of major North American corporations in the forest products sector through the case study of one of North America’s largest corporations AbitibiBowater (Resolute Forest Products). Our contribution consists in analyzing the financialization process from both an external point of view, focusing on the relations between the corporation and financial analysts, and from an internal point of view, through the analysis of the company’s business model. We demonstrate that financialization is a global process which concerns even the least value added activities based on the control of markets and resources. This analysis of financialization allows us to rethink the links between industrial activity and financial markets.