To: rdww who wrote (195 ) 1/1/2000 9:15:00 AM From: Winzer Respond to of 343
We've Got a Deal! This is Friday's Article from the CB Post. I heard about the deal with the consortium of eight companies late last night. Still looking for some electronic text. "News for Friday, December 31, 1999 Sysco talks ongoing By Wes Stewart The provincial cabinet negotiated late into the evening Thursday in an effort to put its final stamp of approval on the sale of Sysco to a United States company. “It is down to the 11th hour and we remain committed to the process,” Economic Development Minister Gordon Balser said Thursday night. Negotiations continued to finalize a deal which must be ratified by cabinet, he said. Balser, the minister responsible for Sydney Steel, said if negotiations are completed he will be in Sydney today to meet with the steelworkers union. The premier's spokesman, Rob Batherson, reiterated earlier comments that an agreement had yet to be reached. “The steelworkers will be the first to know,” Batherson said, adding it is a commitment made by Balser. He would not confirm that a meeting with the union executive and a follow-up press conference will be held today. Unless there is a last-minute hitch, the Reserve Group of Akron, Ohio, is the new owner. Hoogovens – now Corus, through a merger this year of the Dutch steel maker and British Steel – is managing the plant for the province. Reserve Group's Internet Website describes the company as a privately-owned management organization that acquires, revitalizes, and expands basic manufacturing companies. The site lists nine companies in the portfolio, located throughout central and mid-western United States, whose profiles include the manufacture of steel products, forgings, and steel stamped and molded products. The Sysco board of directors worked through Thursday to finalize the sale. Meanwhile, Cape Breton South MLA Manning MacDonald said Premier John Hamm must come to Sydney to explain his Sysco decision. The former minister responsible for the mill wants Hamm to be accountable for election campaign promises when he said that while he couldn't protect Sysco jobs he would to protect the steelworkers. “John Hamm made some pretty bold statements about strong leadership during the election campaign,” MacDonald said. “Clearly he must now put his money where his mouth is and come to Sydney. He has made Sysco his political Waterloo at the expense of the workforce and the residents of Sydney.” Whatever the outcome, Hamm must look steelworkers in the eye and tell them his plans directly, MacDonald said. “Then he will have to explain to all Nova Scotians the true cost of his mishandling the Sysco file.” Winzer