Saturday, September 22, 2012

Marathon Negotiating Deal Saves NewPage Mill

An 11th hour deal has been reached to reopen the NewPage Port Hawkesbury paper mill in Point Tupper. Premier Darrell Dexter called a rare Saturday night press conference just day after a bid by Pacific West Commercial Corporation to purchase the plant collapsed. Dexter says the new deal with the Vancouver company will mean that the money the provincial government has spent in an effort to reopen the mill should be repaid in as little as 12 years. That includes a $124.5 million funding package that was announced last month and $36.8 million that has been spent to keep the mill in a so-called hot idle state. The mill shut down last September, throwing some 600 people out of work and affecting another 400 forestry contractors. The mill opened in 1962.

RCMP Investigate B & E At Farmers Medway Market

Queens RCMP are investigating a break, enter and theft from the Farmers Medway Market in the Port Medway area. Police say the incident occurred sometime overnight Thursday. Authorities believe a white, two-door dodge or ford truck was last seen leaving the area. Anyone with information should contact Liverpool RCMP or Crime Stoppers.

Lumberjacks Blank Campbellton; Get First Win

The CIBC Wood Gundy Lumberjacks have their first win of the season. Michael Crawley led the Jacks with two goals and an assist as they downed the Campbellton Tigers 5-0 last night. Billy Clarke turned aside 23 shots for his first shutout of the young season. He says staying focused wasn't easy after facing only a few scoring chances.

Zac Zakas and Damon MacEachern also added two assists. Head Coach Terry Rhindress says it was nice to get the monkey off the back.

The Jacks return to the ice looking for their second straight win Sunday afternoon against the Metro Shipbuilders. Puck drop is at 1pm at the Dartmouth Sportsplex.

Buyer Backs Out Of NewPage Paper Mill Deal

The Vancouver company that was planning to buy the idle NewPage paper mill in Cape Breton has backed out of its bid, saying its failure to win a favourable tax ruling from Ottawa effectively killed the deal. Pacific West Commercial Corp. issued a statement late Friday saying a favourable tax ruling from the Canada Revenue Agency was a critical factor in ensuring the economic viability of the mill at Point Tupper. The company says that despite the provincial government's efforts to come up with a compromise, both parties decided the tax implications could not be overcome without compromising the long-term competitiveness of the mill. Premier Darrell Dexter issued a statement saying he was greatly disappointed on behalf of the people and businesses in Port Hawkesbury. He says the company's move will be devastating for the mill's workers and their families.