MP Charlie Angus insists Grant Forest Products sale is not a done deal

Charlie Angus, MP for Timmins-James Bay, is insisting that the purchase of Grant Forest Products assets by Georgia Pacific is not a done deal.

Angus is not pleased that Georgia Pacific has chosen to purchase only the profitable assets of Grant Forest Products - the Englehart and Earlton facilities - but not the other facilities in Timmins, and in Alberta.

"Under the Canadian Foreign Investment Review Act, the sale must meet a fundamental test -that it will be a net benefit to Canadians. Georgia Pacific has already made it clear it is not interested in maintaining Grant operations in Alberta or Timmins. It is simply 'cherry picking' the moneymaking strand board operation in Englehart Ontario. Given the existing Canadian consortium has a credible bid on the table, it is hard to see how Georgia pacific will be able to claim that its offer presents greater benefit to Canadians," sated Angus.

Angus is also concerned with the transfer of large sections of forest in Northeastern Ontario that the deal depends upon.

Source:

Angus questions Grant 'fire sale' (Northern News)