TITANIUM CORPORATION INC.- The Next Major Mining Play Message Board

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Gold/Mining/Energy : TITANIUM CORPORATION INC.- The Next Major Mining Play

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To: Winzer who wrote (172)	12/8/1999 10:59:00 AM
From: chevalier	Read Replies (1) of 343

This from the Cape Breton Post today: Bank will recommend buyer for steel plant: McNeil By Wes Stewart Sydney Steel will go into Christmas shutdown mode Dec. 18, but steelworkers president Bill McNeil has government assurance the plant will resume normal operations Jan. 4. McNeil was also told a possible buyer for the plant will be recommended in two weeks. Except for some maintenance on rail processing in the rail finishing mill, the plant will continue at a reduced rate of operation over the holidays. There are between 650 and 700 employees at the plant, most of them will be laid off during the Christmas break. Officers of Sysco?s two unions met Monday with Economic Development Minister Gordon Balser, the minister responsible for the Sydney plant, to get an update on the status of the sale process. McNeil said negotiations with two American companies (Ohio-based consortium Reserve Group and an unidentified western U.S. company) who?s representatives toured Sydney Steel last month are ongoing. ?We hope to get something soon from ABN AMRO (the Dutch bank commissioned to find a buyer).?

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