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N.L. mill, government reaches deal to secure pension


May 29, 2017
By P&PC Staff

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May 29, 2017 – The Canadian Press is reporting that the Newfoundland and Labrador government has reached a deal with Corner Brook Pulp and Paper over its pension plan.

After meeting with the company on Sunday, provincial officials say it will guarantee Corner Pulp and Paper a bank loan, and in return, it will take security interests in the company’s power assets at Deer Lake and Watson’s Brook.