Peter Grant opens up about the sale of Grant Forest Products

Peter Grant, head of Grant Forest Products, spoke to Northern News about the sale of parts of his company to Georgia-Pacific.

Grant very much wants Grant Forest Products to retain its ownership of the company and regain profitability.

However, the company's major creditors are the banks, and they are backing Georgia-Pacific's bid to buy the Earlton and Englehart assets and well as two of Grant's assets in the U.S.

The courts have approved the sale, but the sale must now be approved by the Canadian federal government because the sale involves transferring provincial mill and forestry licenses to a foreign company.

Grant believes the sale will see the continued operation of the Englehart plant for now, but the plant in Timmins will be permanently closed. Grant warns that 1,500 jobs are at risk.

"I am hopeful that, in exercising their due diligence, both levels of government will take into account the profound and lasting effect foreign ownership would have in this area, and the impact it would have on the people employed by Grant Forest Products, and the people of Northern Ontario as a whole."
~Peter Grant

Read more:
Grant breaks his silence on future of area forestry plants (Northern News)