Headlines from this weeks SPEC

Oct. 7, 2001

Partners reach a deal for Gaspésia mill modernization
Gilles Gagné

The Fonds de solidarité de la FTQ, SGF-Rexfor et Tembec reached an agreement last week concerning the modernization of the Gaspésia mill in Chandler. New partners SGF-Rexfor and Tembec will each invest 35 million$ in the equity of the 450 to 465 million$ project.

This 70M$ amount of fresh money should enable the group of partners to finalize the financial aspects of the project. A 125M$ loan that will likely come from a European bank, is considered the last stone of the financial package.

Fishermen win shrimp battle, but plants close
Luc Tremblay

The Regie des marches agricoles du Quebec has finally made a decision on the shrimp pricing problem, coming down in favour of the fishermen over fishplant owners in Griffon Cove and Fox River. The dispute led to a delay in shrimp fishermen taking to the water this summer after they complained prices were too low to make it worthwhile.

Tourism numbers down due to terrorism
Luc Tremblay

The Gaspe has lost thousands of tourists this fall as a result of the terrorist attacks in the United States. According to the vice-President of the Riotel Hotel chain, Francois Rioux, the phenomenon was felt almost instantly after the events of September 11. "Since the terrorist attacks, there is not one day that we have not had to reorganize our activities and review our purchases," Mr Rioux said.