XML FeedsAbitibiBowater completes sale of 121,000 hectares of Quebec timberlands
Sep 2, 2009 | In Woodlands | 7 feedbacks »
AbitibiBowater announced today that it has completed the sale of approximately 121,000 hectares (300,000 acres) of private timberlands in Quebec, Canada, for C$53 million in cash.
AbitibiBowater plans to use the proceeds from this sale for general corporate purposes.
Timberlands located in the Mauricie, Charlevoix and Saguenay regions were sold to two newly formed limited partnerships held by Societe de gestion d'actifs forestiers Solifor, s.e.c. Timberlands located in the Cote-Nord region were sold to Amenagements forestiers Portneuf (3908666 Canada Inc.).
Source: AbitibiBowater
7 comments
Comment from: timbertom [Member] 
here we go again.abibow plans to use proceeds from this sale for general corporate purposes. dont they mean for more corporate bounes.53 million would take care of a lot of severance.just a note 4 and 5 are down in tbay yet the news parking lot is full.oh i forgot 10 of the 53 million should take care of there share.also the pension needs some topping up . i forgot again any corporate personal leaveing will get there full pension. when will this bs end.union members out the door with nothing. but did we expect anything.get ready Quebec first sell the wood then shut the mills down.
02/09/09 @ 13:22
Comment from: soontobegone [Member]
Anyone from Quebec on this site? Wondering what this means to the future of mills there. I tend to agree with timbertom that it can't be good for them.
02/09/09 @ 16:12
Comment from: reduced [Member]
Have to agree myself... but since i don't know the area I don't know what mills or mill this announcement is really refering to.... any ideas???
02/09/09 @ 16:20
Comment from: union thug [Member]
What is interestng here is that Solifer is a subsiduary of the Solidarity Fund which is an investement of Labour money.
Believe the Saganeuy area is where the Donnacona mill is and thats been closed for awhile. We have also been hearing that Dolbeau is down and ain't coming back up.
Believe the Saganeuy area is where the Donnacona mill is and thats been closed for awhile. We have also been hearing that Dolbeau is down and ain't coming back up.
02/09/09 @ 17:06
Comment from: timbertom [Member]
sounds like thunder bay all over again. abibow sold a huge tract of land and then went to the government crying about the high cost of fiber. when nothing happened there, they went to the membership and government asking for cheap wood and concessions and if we dont get it we will shut you down. too bad you dont have danny williams looking after you because he would expropriated it and told abibow to go to hell. he would use the money to pay severance. its probably only a matter of time before you hear of mill closures in Quebec. good luck my friends!
02/09/09 @ 17:27
Comment from: doctorblade [Member]
hey "timtom"..did you win 2 Wendy's meal deals today...
Might have to keep winning contests to "feed the family"! ;-)
Enjoy the long weekend..oh wait...every weekend is now a long weekend! Tanxs abi-bow!
Show me the $$$$$$$$
Might have to keep winning contests to "feed the family"! ;-)
Enjoy the long weekend..oh wait...every weekend is now a long weekend! Tanxs abi-bow!
Show me the $$$$$$$$
02/09/09 @ 23:38
Comment from: timbertom [Member]
no had kraft dinner im waiting for a case to go on sale.but if i had 53 million maybe i could move up to pizza
03/09/09 @ 01:54
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