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Gold/Mining/Energy : TITANIUM CORPORATION INC.- The Next Major Mining Play
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To: Winzer who wrote (184)12/16/1999 11:12:00 AM
From: chevalier  Read Replies (1) of 343
 
Sysco suitor makes second visit to Sydney
plant
By Wes Stewart
One of the suitors for Sydney Steel made a second visit to
the plant this week.
?The best thing we can hope for is a letter of intent before
the deadline,? Local 1064 United Steel Workers president
Bill McNeil said Wednesday.
He hopes an offer to purchase will be enough
encouragement to the province to extend the Dec. 31
deadline it gave to have the plant sold to the private sector.
McNeil said the Dutch bank ABN AMRO, hired by the
province to find a buyer by the do or die deadline, has
stipulated a confidentiality agreement on potential
interested parties. But leaked reports place U.S.
companies, the Reserve Group and a mid-west U.S. steel
producer, as the two most interested. Both companies
have conducted tours of the operations.
ABN AMRO is to make a recommendation to the
province before year end.
Sysco spokesman Ian Thompson would neither confirm
nor deny a visit had taken place pointing out he is abiding
by guidelines set out regarding the confidentiality of
prospective buyers imposed by the bank.
He did acknowledge the process is moving forward.
McNeil said representatives of the unnamed mid-west
company spent two days here.
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