Printer Friendly

Kept afloat.

The province announced last month that it will keep UTDC (the Urban Transportation Development Corporation) afloat until a buyer is found for the Lavalin Industries Ltd. subsidiary. Without the government assistance, UTDC said it would have been unable to pay employees, complete existing orders and bid on new contracts. Potential buyers of the company included Bombardier Inc. of Montreal and AEG Westinghouse Transportation Systems Inc. However, the parent company of the latter firm recently announced a $1.5-billion third-quarter loss. UTDC operates a facility in Kingston as well as the Thunder Bay Can-Car Works.
COPYRIGHT 1991 Laurentian Business Publishing, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Around the North; government assistance enables the Urban Transit Development Corp. to finance its operations
Publication:Northern Ontario Business
Article Type:Brief Article
Date:Nov 1, 1991
Previous Article:CP Forest Products celebrates completion of major expansion.
Next Article:Planner hired.

Related Articles
Slumlord; Pat Moynihan has done some great things - but betraying the poverty warriors isn't one of them.
Legislators Seek Solutions to Costly Sprawl.
The DISAM Journal of international security assistance management.
Ginnie Mae sets a $147M record.
Marine Corps international education and training.
State to serve as guinea pig for parking facility study.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters