Tuesday, July 08, 2008

Harmac Given Another Ten Days

Nanaimo Harmac Pulp
Mill Bids Rejected

The short version of the latest developments surrounding Harmac Pulp Mill are that the receiver and creditors believe the idle mill is worth more if it is liquidated.

To date they are not recommending acceptance of any of the offers made to buy the mill and keep it running.

The group representing Harmac workers seem hopeful that in the next ten days they can convince the receivers they have viable alternative to dismantling the mill. If they are successful with their bid, they believe the mill could be up and running as early as September.

Only time will tell the outcome of this ongoing saga.


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