Thursday, May 08, 2008

Harmac Pulp Mill Sits Idle

Court Ready to Appoint Receiver

Judges in the joint Canada - US bankruptcy court hearing said they were ready a Canadian interim receiver and US trustee to sell what is left of the companies assets.
It is reported that 12 - 15 workers would remain at the mill to 'keep it warm' in the event a potential buyer were to show up.

Pope and Talbot are saying new buyers have expressed interest in the mill but were uncertain how soon a deal could be reached or how long before the mill could be running again.
In the meantime Harmac's 500+ employees have been officially laid off.

Editor's Comment: Every 'Harmac' job is probably worth 2 or 3 'McJobs' so this is quite a blow to the local economy, which is more and more based in the service industry. Of course different levels of government, education and health care provide a large employment base in Nanaimo.


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