TMB.TO,
I agree. I don't like the sale at all. These two mills were running at capacity again, so it looks like their shut down issues were behind them. Also while the price was good, they paid over 100 million for those two mills in 2000. So it wasn't great in my book. My next concern is about three different issues: First, this seems to pave the way for the companies exit from France completely. Tartas seems next to go. Have you gathered this from your conversations with the company?
Second, what is going on with the Pine Falls mill? I can't imagine them shutting this mill down now. I know the employees rejected a 10% wage cut, but I expect something to work out soon. Just wondering if you concur.
Lastly, I was pleased to hear that the sale of these mills is not hampering their project to sell off some assets that need to be sold. That as well should significantly increase their financial stability and ease concerns about debt.
All in all, I would have liked to see them keep the mills. But at least it does ease their financial problems for the time being. I can't wait to see their financial results. I think that and news about Pine Falls mill should be the next catalyst.
Ryan K