Terrace Bay Pulp stakeholders wait on judge's decision
CBC News
Posted: Jul 17, 2012 3:50 PM ET
Last Updated: Jul 18, 2012 8:03 AM ET
A Toronto judge is preparing a written decision on Aditya Birla Group's proposed deal to buy Terrace Bay Pulp. (CBC)
Workers at Terrace Bay Pulp are waiting for a court decision about the future of the mill.
Herb Daniher of the Steelworkers Union says a Toronto judge adjourned a hearing held Monday into the proposed sale of the mill to a company from India.
Daniher said the judge is preparing a written decision.
Until then, the union will not count the ballots cast yesterday by its members to decide whether or not to accept a revised collective agreement.
On July 5, it was announced that the Aditya Birla Group plans to take over Terrace Bay Pulp. The mill has been shut down since late last year. Earlier this year the company went under protection from creditors.
Aditya Birla plans to invest more than $250 million to convert the mill for the production of rayon fibre.
The conversion process will take about two years, but at least some of the 275 mill workers could be back on the job by October.
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