Tuesday, March 25, 2008


Takeover Date
For Harmac Uncertain
The local press reports that the actual takeover of Harmac Pulp Mill by Asia Pulp and Paper will not happen on April 4 as previously reported. It has been moved to the end of April at the earliest.

Bankruptcy courts in both the US and Canada approved the deal between Pope and Talbot and APP last February.
However logistical delays are the reason for the delay as the deal goes through all the regulatory and banking processes.

The delay of course is unsettling for the 500+ employees who have been dealing with an uncertain job future for sometime now.


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