Algonquin Mercantile Corporation - Company Update.TORONTO--(BUSINESS WIRE)--March 14, 1996--ALGONQUIN MERCANTILE Relating to trade or commerce; commercial; having to do with the business of buying and selling; relating to merchants. A mercantile agency is an individual or company in the business of collecting data about the financial status, ability, and credit of individuals (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AM) Algonquin Mercantile Corporation ("Algonquin") announces that unionized employees of its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Dominion dominion, power to rule, or that which is subject to rule. Before 1949 the term was used officially to describe the self-governing countries of the Commonwealth of Nations—e.g., Canada, Australia, or India. Citrus & Drugs Ltd. ("Dominion") went on strike effective 12:01 a.m. Wednesday March 13, 1996. The employees located at the Ontario Food Terminal rejected Dominion's final offer of 6.7 percent over three years. The Company indicated its offer was fair in light of current economic conditions at the Food Terminal. They also noted that employees of Dominion enjoy one of the highest standards of pay and benefits at the Ontario Food Terminal and stated that any significant change would adversely effect its competitive position. CONTACT: Algonquin Mercantile Corporation Winston R. Ash, 905/660-7688 |
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