Wednesday, October 7th12.6°C

Catalyst Paper terminates deal

Pulp and paper producer Catalyst Paper says it has terminated an agreement to sell its Elk Falls site in B. C. to Pacifica Deep Sea Terminals.

The move came after the parties were unable to close the deal for a second time.

The $8.6-million sale of the industrial site in Campbell River was originally scheduled to close in early September, but the deadline was extended until Dec. 18.

The Elk Falls mill began operation in 1952, and at its peak, produced 784,000 tonnes of pulp, paper and kraft paper annually.

The site was permanently closed in 2010. Since then, equipment has been decommisioned and demolition has been completed.

When the sale was announced in August, Pacifica said the deal would create 400 new jobs in the region.

The Canadian Press

Read more Business News

Recent Trending

Today's Market
S&P TSX13824.85+177.59
S&P CDNX541.79+3.10
S&P 5001986.42+6.50
CDN Dollar0.7670-0.0002
Natural Gas2.495+0.025

Okanagan Companies
Pacific Safety0.23+0.02
QHR Technologies Inc1.25+0.00
Metalex Ventures0.05+0.00
Russel Metals23.18-0.13
Copper Mountain Mining0.60+0.04
Colorado Resources0.075+0.005
ReliaBrand Inc0.0031-0.0009
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.085+0.000
Decisive Dividend Corp3.35+0.29
Diamcor Mining0.90+0.00



24127713733 McMillan Road
4 bedrooms 3 baths
more details
Click here to feature your property
Please wait... loading

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council