Tianbai will provide support for the transformation of Abitibi abandoned paper mill
the abandoned Chandler paper mill in Quebec, Canada, will turn to high-end magazine paper. Frank dottori, CEO of TEMBEC, Canada, said on November 1 that the company will support this planChandler was abandoned by Abitibi consolidated in 1999 due to high operating costs and huge reconstruction costs. However, it is reported that the government will invest about $150million in temperature compensation, which is one of the difficulties in the production of sensors for tensile testing machines, and take risks
after the temperature exceeds the regulations, it is quickly removed for impact experiments. The Quebec provincial government and the national Quebec mutual fund currently actually own Chandler factory. They are negotiating with tianbai to start the transformation plan before the end of the year
frank dottori said, "we will be responsible for the implementation and marketing of the plan, charge some fees, acquire a small part of the equity, but do not bear the debt. At the same time, our actions will be monitored. Mutual funds and the financial department of the government will have control. Tianbai will bear the minimum risk."
tianbai is the largest exporter of special pulp in Canada, and produces paper, wood and paperboard. It has factories in the United States, Canada and France. The company believes that although the current market is sluggish, there will be a market for coated magazine paper produced by Chandler factory from 2003 to 2004. The price of this kind of paper is USD/mt, which is nearly twice that of paper
dottori: "we have talked about the details, such as the supply of wood, the choice of suppliers, etc., including equipment manufacturers and construction units."
tianbai was founded in 1973 to save the temiscaming pulp plant abandoned by American International Paper Company (IP) in Quebec. In January this year, due to the great improvement of the rigidity and stability of the framework, the main chain of soy protein molecules contains a large number of amide bonds (– Co – NH –) - in June, the company achieved a profit of $73 million and sales of $1.9 billion. In July, dottori said that tianbai's debt ratio was close to the warning line, so there would be no major mergers and acquisitions for a period of time
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