Madill Equipment Goes Broke

Friday, April 04, 2008 04:00 AM

Nanaimo, B.C. - The collapse in forestry has claimed another victim outside of the industry. Madill Equipment of Nanaimo was signed into bankruptcy on Tuesday throwing 190 staff out of work.

The company, a major employer in Nanaimo and stalwart in the forest industry has been manufacturing heavy equipment for the forest industry since 1911.

RSM Richter Inc. appointed as receivers said the majority of Madill’s distribution and service centers will be operated on a limited basis.

The company manufactured forestry equipment at their plant in Nanaimo and also in Kalama, Wash. The company operated in a market area that included the Northwest USA, British Columbia and Alberta.

Company workers say they were shocked to learn that they were being terminated although some said they could see it coming. The company they said needs to produce at least four machines a month to break even, they were down tom two.

Madill equipment operated a distribution center in Prince George on Milwaukee Way. The fate of those employees is not immediately known.

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Posted on Friday, April 04, 2008 04:00 AM in News by 250 News

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Comments

Posted by: Andyfreeze on April 4 2008 6:25 AM

Very sad indeed!
A legendary company in the B.C.forest industry who pioneered a lot of logging equipment over the years.
I believe they came up with the first portable spar tree system built on surplus military tank bodies?, or something like that.
They won't be the last.

Posted by: vulcan on April 4 2008 7:54 AM

More people out of work, that is so sad, when is it ever going to stop, or at least slow down.

Posted by: Reevus on April 4 2008 8:27 AM

Unfortunately Vulcan this prolem is only going to accelerate, at least in the short term. and it is very sad.

Posted by: Andyfreeze on April 4 2008 9:10 AM

Good point Reevus,we ain't seen nothin'yet!But unfortunately,many are still in denial!
Including the government!

Posted by: govsux on April 4 2008 10:10 AM

Keep your head up, we're about to get hit.........hard

Posted by: thereasonableman on April 4 2008 10:23 AM

Terrible news. There is work available in other sectors for these workers, but Madill was legendary.

Posted by: realitysetsin on April 4 2008 12:16 PM

Hyundai was already working with them on some of their platforms. I wonder if they will step in and take it over........?