Mackenzie Mill Sale Decision Hours Away
By 250 News
Thursday, August 21, 2008 03:58 AM
Prince George, B.C.- The former workers at the Mackenzie Pulp mill should know later today if the court has approved the sale of the former Pope and Talbot asset.
Justice Donald Brenner says he will rule today on the sale, and on the contract that calls for Canfor to supply the pulp mill with chips.
Without that agreement, any operator of the mill could expect to add millions of dollars to their operating costs because they will have to haul and chip their own logs.
Canfor argues the contract is void because Pope and Talbot breached the contract and Canfor cannot be forced into an agreement with a new owner. Canfor has already shut down the saw mill which was the source of chips for the pulp mill.
Dan White, the President of Worthington Properties of Edmonton is the sole director of the numbered B.C. company which has offered to pay $20 million dollars for the idled mill, he says he has been advised a decision will be delivered within hours.
If the deal is approved by the court, the closing date would be September 19th at the earliest, as the purchaser would have to pay more if there is an extension.
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