Another Chapter in Worthington-Mackenzie Mill Ends Later Today
By 250 News
Friday, October 16, 2009 04:08 AM
Mackenzie, B.C.- At 4:30 this afternoon, there will be a significant shift change at the Worthington- Mackenzie pulp mill.
That is the time, when the Provincial Ministry of the Environment pulls out of the operation and a consortium will take over. “That will conclude our involvement in the site” says Minister of Forests and Range, Pat Bell “We have disposed of all the chlorine dioxide, white liquor, black liquor and green liquors which are the most toxic of the chemicals, so we’ve really got the mill to a state where its safe now, there really isn’t any environmental hazard.”
Bell says there is a group that has come on board to keep the mill warm and in a state that the mill could be re-opened in a relatively short period of time and while that transaction is expected to conclude at anytime now, Bell doesn’t want to get too excited about it “There have been so many twists and turns in this file over the last year or so, that until the deal is done and the money is in the bank , I’m not going to start celebrating.”
Bell says the group is a consortium of individuals who see the potential in the mill and believe they can market the mill. “Whether they would be part of the long term operation of the mill is up in the air a bit” says Bell. He says the interest in the Worthington- Mackenzie mill has increased significantly over the past couple of months “There is a significant amount of money moving around B.C. right now from investors who are looking for pulp mills, saw mills, paper mills that sort of thing, it’s been quite a shift in the last 30 to 60 days in terms of the interest in the forest industry and I think that’s going to start yielding some long term results.”
The Province has spent about $6 million dollars in operations at the mill since it stepped in last February to ensure there were no environmental disasters. The Province expects to recoup those dollars “We are secure, we have put the appropriate liens in place and we do have all the tactical things that need to be done from a legal perspective. The real question is, ‘what is the value of the mill, and will that value be recovered through a sale at this point?’”
Once the Province is out of the mill, it will be up to Worthington or someone else to try and prevent any loss in the mill’s value over the winter months. Bell says it is not the Province’s role to be involved in buying the mill, “If there is a role here for a sale, it is amongst the private sector and there is significant interest now so we’re hoping that will be concluded.”
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Posted by: lmorge on October 16 2009 2:32 PM
The other interesting part is how quite this has been but I guess that is the Abitibibowater way [I wounder were pat bell is on this one]