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Article: Canada : Quebec mulls buying stake in AbitibiBowater.
- Article from:
- TendersInfo
- Article date:
- November 3, 2009
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Byline: pinto03
Quebec may consider buying a stake in AbitibiBowater Inc. if the bankrupt newsprint maker and its unions can agree on how to cut production costs, Economic Development Minister Clement Gignac said Monday.
The provincial government formed a group that includes union and paper-industry representatives to find ways to reduce raw-material and wage costs at mills in Quebec, Mr. Gignac told reporters in Montreal. AbitibiBowater has been in creditor protection in Canada and the U.S. since April.
"Before the government becomes a shareholder of Abitibi, all of the partners will have to make sacrifices that allow us to lower ...