Paper Excellence Canada and the Province of Nova Scotia Reach a Settlement

Paper Excellence Canada announced today that it has reached a settlement with the Province of Nova Scotia that acknowledges plans to transform and reopen Northern Pulp Nova Scotia in Pictou will not proceed and provides for a review process agreed between the Northern Pulp group and the Province of Nova Scotia that is aimed to determine whether a new, modern mill in Nova Scotia is viable. The agreement also provides for the settlement of outstanding litigation and loans between the two parties and fully addresses the pensions of former mill employees.

The settlement agreement is subject to approval by the Supreme Court of British Columbia.

Feasibility study for a new, modern mill
Central to the settlement agreement is the creation by the Northern Pulp group (a subsidiary of the Paper Excellence group) and the Province of Nova Scotia of a review process that will explore the feasibility of a new, modern mill in Liverpool, Nova Scotia. Paper Excellence Canada will fund this review process and will work in close consultation with the Province of Nova Scotia in undertaking a feasibility study to determine whether a viable business case exists to open a new mill there.

The potential construction of a state-of-the-art Northern Bleached Softwood Kraft (NBSK) pulp mill therefore depends on a determination of viability under this study.
more at: https://paperexcellence.com/paper-excellence-canada-and-the-province-of-nova-scotia-reach-a-settlement/

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