Papier Masson's benefits to be scrapped

Papier Masson, a newsprint mill in Gatineau, is one of the four mills owned by the White Birch Paper company.

The $243 million deal for the Black Diamond Capital Management group of funds to take over the mill is conditional on scrapping benefit plans and negotiating a new contract with workers.

150 people are employed at Papier Masson in Gatineau.

The deal is expected to be complete in late November 2010.

Source:

Deal gives Gatineau paper mill new owners (CTV Ottawa)