Burnaby Refinery
Rumors this morning that PKI's new Burnaby refinery may be shut down due to a pending labor dispute as Parkland could not come to a new collective labour agreement with Unifor the local labour union. Even a 1 week dispute would totally destroy Q4 earnings as shutting down the refinery would have devastating consequences. This could also put the $100Million shutdown in jeopardy that was supposed to start on Feb. 1st, 2017. Lock-out/strike notice could come as early as tomorrow unless a hail mary can bring the parties back to the bargaining table. This brings back horrible memories about another Refinery (Bowden) that Parkland bought and shut down a few years back.