Agreements Clinched for Construction of an MDF Reconstituted Wood Board Plant in Ville de La Baie.CHICOUTIMI, Quebec--(BUSINESS WIRE)--July 9, 1996--CORP. D'INV. AMISK (ME:AS.A) Michel Belley, President of the Corporation Regionale d'Investissement Amisk Inc., is pleased to announce that Sodexfor Limited Partnership -- in which Amisk holds a 50 percent interest and Pan-O-Lac Ltee, the other 50 percent -- has entered into a number of agreements concerning the construction and operation of an MDF (1) (Main Distribution Frame) A wiring rack that connects outside lines with internal lines. It is used to connect public or private lines coming into the building to internal networks. reconstituted wood board plant in Ville de La Baie La Baie (lə bī), city (1991 pop. 20,995), S Que., Canada, on Ha! Ha! Bay, an arm of the Saguenay River. Formed by the amalgamation of Bagotville, Port Alfred, and the parishes of Grande-Baie and Bagotville, La Baie has a natural harbor that . The project is the outcome of agreements in principle reached on June 30, 1995. With construction and start-up costs estimated at $120 million, the plant will have an annual production capacity of 220 000 cubic metres Noun 1. cubic metre - a metric unit of volume or capacity equal to 1000 liters cubic meter, kiloliter, kilolitre metric capacity unit - a capacity unit defined in metric terms and will employ approximately 100 people. It will use some 180 000 wet tonnes of raw materials in the form of chips, sawdust sawdust used as litter for chickens and bedding for horses. Sawdust made from treated timber may cause pentachlorophenol and other wood preservative poisoning. Fungi growing in sawdust litter in poultry houses may cause poisoning in the birds. , and softwood softwood Timber obtained from coniferous trees (mainly of the pine and fir families). With the exception of bald cypress, tamarack, and larch, softwood trees are evergreens. and deciduous deciduous /de·cid·u·ous/ (de-sid´u-us) falling off or shed at maturity, as the teeth of the first dentition. de·cid·u·ous adj. 1. shavings, all woody timber by-products that are currently underused in the Saguenay--Lac-St-Jean region. Uniboard Canada Inc. will be responsible for managing the new plant and product marketing. All prerequisite conditions in terms of financing, government authorizations and environmental considerations have been met. Sodexfor's total investment, which stands at $13.5 million, was drawn partly from the company's working capital and partly from a new source of financing. Sodexfor concluded partnership arrangements with the Societe de Recuperation recuperation /re·cu·per·a·tion/ (-koo?per-a´shun) recovery of health and strength. recuperation, n the process of recovering health, strength, and mental and emotional vigor. , d'Exploitation et de Developpement Forestier Rexfor, with a view to creating a new company, Sodexpan Inc. Rexfor and Sodexfor hold an equal interest in this company's share capital. Sodexpan then subscribed for the capital stock of Panneaux M.D.F. La Baie Inc., in which Uniboard holds 50.1 percent of the shares issued and outstanding, and Sodexpan Inc. 49.9 percent. The Corporation's Management is confident that this transaction, which gives it an indirect investment of nearly 12.5 percent in the project, will promote corporate growth and secure the company a position in a sector that offers high-growth opportunities. CONTACT: La Corporation Regionale d'Investissement Amisk Inc. Michel Belley, 418/546-1156, ext. 235 Marc Lalancette, 418/546-1155, ext. 229 |
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