Company still interested in former mill: Dunderdale

Staff ~ The Telegram
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Kathy Dunderdale

Motion Invest could still submit a proposal to take over the shuttered paper mill in Grand Falls-Windsor, the minister of Natural Resource said this afternoon.
Kathy Dunderdale told reporters there had been a number of phone calls today about the company's intention between a senior department official and Motion Invest's Bob Roche.
"At this point, they're still expressing an interest in going forward," she said. "They are saying that later on the down the road, they'd like to come forward with a business plan."
Motion Invest, a European Investment group, issued a release Tuesday saying it was no longer interested in the mill, which Abitibi-Bowater closed in March 2009.
The company said its decision resulted from "wholly inaccurate reports and statements" about its intent.
Dunderdale told the House of Assembly last week Lott Paper, a company backed by Motion Invest, had expressed interest in the mill.
It was later reported Lott was in bankruptcy protection.
Motion Invest's statement indicated its discussions with the province were supposed to be confidential.
Dunderdale's responded to that remark this afternoon as well.
"It's just as puzzling to me as it is to you," she said. "How have we breached their confidentiality? Because certainly in terms of my public pronouncements, I certainly provide any details out of the letter of intent. Other than to say that we had received one, that Lott Paper was involved, Motion Invest is certainly involved, and that they'd be looking for an investment from the people of the the province."
The investment the company was seeking was $52 million, Dunderdale said.
Asked if this is the kind of company government wants to do business with, the minister's response was "not reassuring, not at all."
She said government will still look at any proposal submitted by any company.
"I can't say I'm going to deal with this person and I'm not going to deal with this person. That's not the way that we do business. All I'm saying is, I had a great deal of reservation the whole way through this. I have more reservation (now)."

Organizations: European Investment

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Recent comments

  • Steve
    July 20, 2010 - 13:02

    Minister Dunderdale has about as much credibility as George W. Bush proclaiming weapons of mass destruction in Iraq. It is time for her to be removed and replaced with who, I am not exactly sure?

  • Michael
    July 20, 2010 - 13:02

    Stop it Dunderdale, nobody believes you anymore.