Clear Full Forecast

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.
 

Previous Story - Next Story



Return to Home
NetBistro

Comments

There are currently no comments for this article.