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.
Read more Business News
- Smoke in the southPenticton / S. Okanagan
- Hwy. 33 reopensCentral Okanagan - 12:30 am
- Minor injuries in rolloverVernon / N. Okanagan
- Passengers leave stalled SkyTrains BC
|QHR Technologies Inc||1.15||0.00|
|Anavex Life Sciences||0.348||+0.008|
|Copper Mountain Mining||2.69||-0.01|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.18||-0.03|
The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...
Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...
Big Picture Euro debt woes re-emerge Europe’s debt woes jumped back into the headlines this week trumping other economic, geopolitical and corporate developments. Word that one of Portugal&rsquo...