A $100 million cash infusion will breathe new life into the idled Nackawic pulp mill.
A $100 million cash infusion will breathe new life into the idled Nackawic pulp mill.
Tembec, India’s Aditya Birla Group and the provincial New Brunswick government have invested considerable capital with the hope of resurrecting the inactive mill, and the community that houses it.
Blasted for his decision to lend out close to $70 million to help restart the facility, New Brunswick premier Bernard Lord has said he knows investing in the operation was chancy, but that the rewards of doing so will outweigh the risks.
“This is not only about saving a mill,” www.canadaeast.com reported Lord as saying, “it’s about saving a community.”
The St. Anne-Nackawic pulp mill closed over a year ago, on September 14th, and 400 people suddenly found themselves without a job. The company that then owned the mill, New York-based Parsons and Whittemore, filed for bankruptcy soon after.
Roughly 250 of the former employees will be rehired and the mill is expected to be back in operation early in the New Year.
According to CP Atlantic Regional News, the refurbished mill will be making several different grades of wood pulp, including one variation that can be used to produce rayon.
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