Premier Danny Williams pleased with AbitibiBowater deal

Newfoundland and Labrador Premier Danny Williams is pleased with the recently announced deal that will see Canada pay AbitibiBowater $130 million to settle the pending trade war over the province's action to seize the company's assets.

Premier Williams said his provincial government will not be on the hook to pay any of the $130 million.

"We're very, very pleased," Williams said, "If you [have] a couple of days, I can tell you all the reasons why Newfoundland and Labrador is not being treated unfairly here, and I'm not being flip with you, I'm just being quite honest," Williams told reporters on Wednesday. "We make a huge contribution to Canada and I've said it time and time again, through our natural resources and through everything we do."

The Communications, Energy and Paperworkers union (CEP) says it's pleased to see the federal government and Abitibi Bowater reach a deal on on the company's assets in this province, however the deal means little for the AbitibiBowater employees in Newfoundland who are still out of work. Gary Healey of the CEP did say, though, it may be new money for the company and it should be used for pension shortfalls.

Sources:

Williams Pleased Feds Settling with AbitibiBowater (VOCM)

N.L. not on hook for Abitibi payout: Williams (CBC)