AbitibiBowater seeks permission to sell four closed mills, machinery

摘要

MONTREAL - Newsprint producer AbitibiBowater is asking the bankruptcy courts for approval to sell four closed mills and their machinery to Montreal-based American Iron 8c Metal, according to a Canadian Press news report on April 19. The scrap metal company would buy the assets for $8.7 million. The deal includes the mills at Beaupre, Que., Don-nacona, Que., Thunder Bay, Ont, and Dalhousie, N.B. CP reports that American Iron would also pay AbitibiBowater 40 of the money raised from the sale of the paper machines. Even if they are sold for scrap, American Iron would pay at least $5 million.