Pope and Talbot Sells 3 Sawmills
By 250 News
Tuesday, November 20, 2007 01:30 AM
Pope and Talbot has announced it has reached an agreement with Interfor, that will see Interfor purchase three of Pope and Talbot's sawmills.
The mills in question are in Castlegar and Grand Forks B.C. and one in Spearfish South Dakota. The price tag was $69 million dollars plus the value of certain current assets and liabilities.
The deal still has to be approved by the Canadian Court and the U.S. Bankruptcy Court.
Yesterday Pope and Talbot agreed to move it's Canadian court proceedings to British Columbia following an application filed by the Province of B.C. . That application was supported by numerous stakeholders including contrators, and unions.
There has been no word yet on a possible buyer for the Mackenzie pulp mill which is owned by Pope and Talbot .Previous Story - Next Story
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I'm sure if the natives took it on they could have the ability to make it a far more efficient operation, especially if more then one Band brought their regional and specific strengths to the table. The looming forestry crisis if managed right could be the best opportunity the natives have ever had. It wouldn't be that hard to utilize the considerable land value (cash flow potential) of the natives as equity in any deal backed with the right kind of guarantees.
I suspect most will be looking for the hand out rather than the opportunity, because that is the way it has always been.....