Post by
EEE2801 on Jun 23, 2000 1:22pm
FYI Canadian Papers Mills are selling!
MONTREAL, June 23 (Reuters) - Canadian engineering company SNC-Lavalin Inc. (Toronto:SNC.TO - news), investor Clermont Levasseur and a Quebec investment fund have offered C$400 million for Abitibi-Consolidated Inc.'s (Toronto:A.TO - news) Gaspesia paper mill in Chandler, Quebec.
The plant will be refurbished to produce ``value-added high quality coated free sheets, the kind of paper used in high-gloss magazine production,'' SNC-Lavalin and Fonds de Solidarite said in a statement.
The Chandler plant, which used to produce newsprint, was shut down one year ago, the statement said.
Levasseur said there were ``still several steps before the transaction is concluded.''
Fonds de Solidarite, a labour fund with net assets of more than C$3.3 billion, invests in job-creation and economic development projects in Quebec.
($1 equals $1.48 Canadian)
They make the SAME product as Repap.
We have been drifting down. This board is dead. Let's hope for something good quickly.