Avenor (avr-tse) - Repap buyout (rpp-tse) Message Board

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Gold/Mining/Energy : Avenor (avr-tse) - Repap buyout (rpp-tse)

AVR 4.210

-2.3%

Nov 5 3:59 PM EST

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To: wesley vandenhazel who wrote ()	6/23/1997 4:49:00 PM
From: tk	of 290

Repap Enterprises Inc - In the News Post says former Repap BC mills to shut Repap Enterprises Inc RPP Shares issued 123436837 1997-06-20 close $0.61 Monday Jun 23 1997 In the News The Financial Post reports in its Saturday edition that unable to secure financing, ailing Skeena Cellulose has begun to shut down forestry operations in BC, according to the company. Reporter Keith Damsell says the end of operations means the loss of about 2400 jobs along the northwest coast of BC, where the company is the largest employer. Tom Boughner, v-p of pulp operations in Prince Rupert, says the company is out of money to continue running and it will be shut down by the end of next week. On June 27, the Prince Rupert pulp mill will end operations. During July, sawmills in Terrace, Hazelton and Smithers will close. On March 12, the company, formerly known as Repap BC, issued an ultimatum to unionized employees and the provincial government to accept a restructuring plan or the company will be forced to shut down. So far, BC has proposed some fee cuts that will save the firm about $20 million annually, but union leaders have refused to cut staffing levels by 30 per-cent over the next three years. (c) Copyright 1997 Canjex Publishing Ltd.

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