• July 5, 2015

White Mountain Independent

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Catalyst announces sale of paper mill equipment, assets

Posted: Friday, September 28, 2012 5:00 am

RICHMOND, BC — Catalyst Paper announces that it has begun a sale process for its Snowflake mill and associated assets in accordance with the US Court-approved sale and investor solicitation procedures (SISP).

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  • Discuss

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2 comments:

  • devilishkatlyn posted at 3:20 pm on Fri, Sep 28, 2012.

    devilishkatlyn Posts: 174

    Seriously, they are considered one of the best corporate citizens? When they drop a bomb like that on a community, how can they be considered a good anything?

     
  • wes alderson posted at 10:52 am on Sat, Sep 29, 2012.

    wes alderson Posts: 9410

    To: devilishkatlyn,

    I agree that this closing and sell-off of all the equipment has a horrible effect on the local economy as well as the loss of so many jobs.

    But if you had been one of the Mill's owners, and you saw that your operations were losing money on a daily basis, how long would you go on allowing your own money to be bled out?

    Sadly, for any business, there comes a time when the owners must face the fact that since they cannot break even, it is time to close down the Mill. The owners are not to "blame" for anything. They gave it their best shot and were unable to make the Mill earn a profit.

     

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