Buchanan Forest Products requests more time to restart the Terrace Bay Pulp mill

Buchanan Forest Products is asking the court for a 60 day extension before restarting the Terrace Bay Pulp mill.

"Last year we negotiated a term sheet with the province for a $25 million term loan," said Yves Fricot, general council for Buchanan Forest Products. "That was intended to facilitate our exit from (the Creditors Arrangement Act) and the restart of operations."

Fricot said the company has ran into a number of issues on their path to restarting the mill, including raising more money for the mill. Now the company hopes to restart the mill in June.

The company will appear in court on Friday to request the extension.

Source:

Mill restart delayed (TbNewsWatch)