XML FeedsFraser Papers' Edmundston mill may have brighter future with NB's power deal
Nov 1, 2009 | In Financial News | Send feedback »
Peter Gordon, CEO of Fraser Papers Inc. believes that the Edmundston mill will benefit from the province's decision to sell NB Power's assets to Hydro-Québec.
The deal will see New Brunswick's industrial power rates to be lowered to match Quebec's rates. That will lower the Edmundston mill's power bill by roughly 30%.
Fraser Papers is currently in bankruptcy protection. It employs about 350 people at the Edmundston mill.
The NB Power sale was announced Thursday, but a final agreement isn't expected until the end of March.
Read more:
NB Power deal could save Edmundston mill (CBC)
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