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Buyer backs out of Harmac purchase
VANCOUVER -- Asia Pulp & Paper terminated a deal yesterday to buy three pulp mills and a sawmill from insolvent Pope & Talbot, sending shock waves through mills in British Columbia where the future of more than 1,000 workers is now in jeopardy.
Pope & Talbot reported yesterday that APP subsidiary PT Pindo Deli has delivered written notice of the termination of a $231-million purchase agreement for the mills, but was willing to discuss "mutually acceptable alternative transactions."
http://www.canada.com/victoriatimescolonis...b2-91b183c02047
VANCOUVER -- Asia Pulp & Paper terminated a deal yesterday to buy three pulp mills and a sawmill from insolvent Pope & Talbot, sending shock waves through mills in British Columbia where the future of more than 1,000 workers is now in jeopardy.
Pope & Talbot reported yesterday that APP subsidiary PT Pindo Deli has delivered written notice of the termination of a $231-million purchase agreement for the mills, but was willing to discuss "mutually acceptable alternative transactions."
http://www.canada.com/victoriatimescolonis...b2-91b183c02047