Bid deadline extended to Oct. 24 for NewPage's closed Port Hawkesbury paper mill in Point Tupper, Nova Scotia; union VP says extension indicates rising interest in mill

LOS ANGELES , October 14, 2011 (press release) – The deadline for bids on NewPage Port Hawkesbury Ltd.’s closed paper mill in Point Tupper, Nova Scotia, was extended until Oct. 24 at 5 p.m. by the court-appointed monitor handling the sale of the mill, reported the Winnipeg Free Press on Oct. 14.

The deadline date had been Oct. 14, yet Communication Energy and Paperworkers Union Vice President, Archie MacLachlan, said that the extended deadline indicates more interest in the site.

Court-appointed monitor Ernst & Young said in September that the qualified number of bidders had been funneled from 21 to 14, and would further narrowed to two, reported the Winnipeg Free Press.

NewPage closed the Port Hawkesbury mill on Sept. 16, citing high power costs, the high Canadian dollar and climbing transportation expenses. It was subsequently placed under credit protection.

The primary source of this article is the Winnipeg Free Press, Winnipeg, Manitoba, on Oct. 14, 2011.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.