Cascades sells its Thunder Bay plant

Jan 8, 2008 | In Mill Sales/Transfers | 3 feedbacks »

At yesterday's news conference in Thunder Bay, a $1.5 million grant from the Northern Ontario Heritage fund was announced. This amount helped finalize the purchase agreement for Thunder Bay Fine Papers to purchase the idled Cascades mill.

Now that they own the mill, Thunder Bay Fine Paper's first goal is to turn on the heat in the facility. Paper should be in production by April of this year with 250 employees going back to work.

Cascades Press Release: Cascades sells its Thunder Bay plant

Cascades is announcing the sale of its coated fine papers manufacturing plant located in Thunder Bay, in Northern Ontario. Cascades will contribute $4.5 million to the purchaser, Thunder Bay Fine Papers Inc., in order to support the start-up of the plant.

In commenting on this transaction, Mr. Mario Plourde, President and Chief Operating Officer of Cascades Specialty Products Group, stated: "Cascades is pleased to announce this transaction which will allow us to participate in the creation of new jobs in the community while limiting the costs associated with maintaining the mill".

The Thunder Bay plant ceased operations in January 2006 because of unfavourable economic conditions.

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Comment from: Aye Shiitemahpanz [Visitor] Email
Whatever happened to the $650,000 of tax-payers' money that was used to finance the Thunder Bay Community Economic Development Commission (CEDC) which was launched back in 2006 to much fanfare and promise? Weren't citizens of Thunder Bay told that Founding CEDC CEO Steve Demmings was 'an economic development executive with strong private and government expertise and a knack for building partnerships'? Weren't citizens of Thunder Bay also told that the CEDC was 'a project-based, business-led, partner-driven, community-supported organization'? So why is it that after more than 1 year and several hundred thousand dollars later, Steve Demmings and the CEDC don't have a single project on the books? Where is the annual report to show what Demmings and the CEDC did with all that tax-payer money?

Citizens of Thunder Bay - wake up and smell the coffee. You are being fleeced by your so-called 'community leaders' who are doing nothing but bilking hundreds of thousands of your hard-earned tax dollars from beneath your collective noses.
14/01/08 @ 14:20
Comment from: Steve Demmings Sucks [Visitor] Email · http://www.thunderbay.ca/index.cfm?fuse=html&pg=151
Less than 1 year on the job as 'Founding CEO' of the Thunder Bay Community Economic Development Commission and Steve Demmings can count his town as the worst city in Canada!

http://www.conferenceboard.ca/press/2007/cma-benchmarking.asp

That's right folks - According to the Conference Board of Canada, Thunder Bay is ranked dead last among 27 Canadian cities graded on economy, innovation, environment, education, health, society and housing.

Way to go Steve! Which city's economy will you ruin next?

P.S. If a pathological bubble-blower whose 'economic development strategy' is little more than flatulence falls in the forest, does he make a sound?
22/01/08 @ 11:57
Comment from: Aye Shiitemahpanz [Visitor] Email · http://www.conferenceboard.ca/press/2007/cma-benchmarking.asp
Colonic Smoke-Blower Clueless

In a recent article in a local Thunder Bay newspaper, Thunder Bay CEDC Founding CEO, Steve Demmings is quoted as saying: "In a changing world, Thunder Bay is miles ahead of many other communities that have been besieged by what's happened in the forestry sector."

If that's true, Steve then why is it that the Conference Board of Canada recently ranked Thunder Bay dead last as the worst city in Canada?

SOURCE:

http://tbay.ok.bc.ca/stories.php?id=88695

http://www.conferenceboard.ca/press/2007/cma-benchmarking.asp

03/02/08 @ 16:13

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