A little late with this one, but in late November Interfor purchased three mills from cash-strapped P&T. The mills are in Grand Forks, Castlegar, and a third in South Dakota. Interfor was looking for some exposure to the southern BC Interior and in time this may look like a good deal. It also adds some stability and a more certain future for the communities involved. Much better than the uncertainty leading up to the sale announcement.
Link to story:
http://www.theglobeandmail.com/servlet/story/LAC.20071120.RPOPE20/TPStory/Business
P&T has also received some heat from local politician Corky Evans regarding the potential sale of their private lands inside their Arrow TFL. In addition, many local contractors are wondering if they will ever see payment from P&T for work completed up to the P&T closure. Monies owed are reportedly in the millions, and it seems like any revenues P&T earns from crown or local resources should go first to paying off their contractors in the area.
1 comment:
Any idea what the deal was with Interfor and the BC government of the day when Interfor bought the three mills for P&T? I hear they do not operate their cutting permits under the Min of Forests and bypasses the local Forestry office entirely.
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