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A buyer for Mackenzie?
A report said that "some serious candidates" had been looking at the AbitibiBowater mill in Mackenzie, BC. There is a "non-compete" clause attached to the For Sale sign but that only applies to sales of product in North America, according to Pat bell, BC's Minister of Forest and Range. The 180 000-tonne/year-capacity newsprint mill was shut in 2008. AbitibiBowater is currently struggling to repay a series of loans which are due in March, July this year and March 2010. It hopes to exchange $C1.8 billion in debt to extend the maturities and issue bonds to repay the loans and thus avoid defaulting. |
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