XML FeedsBack taxes are a major sticking point keeping Fibratech from reopening
Aug 20, 2008 | In Mill Expansions/Openings | Send feedback »
The potential buyers are talking daily with the receiver of the bankrupt Fibratech mill in Atikokan, Ontario but so far there is no deal.
The major sticking point is the issue of the back taxes the property owes the township and who will be responsible for paying them.
Atikokan Mayor Dennis Brown says the lawyers are working on a solution and he is hopeful there will be a good outcome.
The particle board plant has been idle since the company declared bankruptcy last winter. Brown said the number one objective continues to be restarting the plant to try to regain some of the 140 jobs that were lost. Atikokan was hit with two mill closures last winter and both plants remain closed.
Source:
Talks continue on terms that would cinch Fibratech sale (Thunder Bay's Source)
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