Crofton union reps, Catalyst, ask Premier for help
Union representatives from Vancouver Island pulp and paper mills were alongside Catalyst Paper executives Tuesday in a meeting with B.C. Premier Christy Clark to discuss helping the debt-laden company through creditor protection.
The President of Crofton’s CEP local 1132, Fraser McQuarrie, told SunFM News that the union and company are not asking for bail outs, but for assistances.
"We're not coming hat in hand asking for a hand out," he said. "But is there some way we can bridge this gap until we exit it out of bankruptcy and CCAA protection so we can move forward as a viable entity."
Some says to help the company's cash flow include provincial sales-tax breaks and lower hydro bills.
Premier Clark is said to have been showed concern for jobs at the mills, as well as pension recipients.
Clark has asked the MLA for Vancouver-Quilchena, Colin Hansen, to work with the communities. McQuarrie confirmed they are planning to meet with the MLA, also a former finance minister, to discuss the ideas.
Noteholders rejected a debt restructuring plan last week by a slim margin, putting the company in a Sales and Investor Solicitation Process (SISP), which includes considering potential bidders.
Catalyst President and CEO Kevin Clarke was also scheduled to meet with union heads at the Crofton mill Tuesday afternoon.
Most Viewed Stories
Questionable Content? Click here to report it to the webmaster.