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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange) -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (2494)	5/31/1998 3:35:00 PM
From: david james	Read Replies (1) \| Respond to of 2841

From chamber-of-shipping.com Pictou Industries sold Pictou Industries Ltd. will be sold to MM Industra of American Eco Ltd. under an agreement in principle announced 30 Dec. MM Industra will pay Canadian$750,000/U.S.$526,000 excluding the Canadian government's wharf rea, the marine railway, a common user facility and the floating dry dock. C$1.6 million/U.S.$1.1 million will be invested for upgrades using government money. Of that, C$1 million/U.S.$702,000 will be "forgiven" as long as MM Industra invests a like amount in new equipment and starts production. MM Industra will also be able to receive credit on the remaining C$600,000/U.S.$421,000 based on the number of full-time jobs created over the first three or four years of operation. MM Industra expects creation of up to 200 jobs. I actually thought this was a site adjacent to the MM Industra site. However, it turns out that its on the other side of Nova Scotia. Not sure what business is planned - but 200 jobs would make it equivalent to the entire MM Industra site running at full bore. prdc.com David