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UTDC for sale.


Lavalin Industries Inc. of Montreal has announced its intention to sell off several of its assets, including half of its stake in UTDC Inc. A consortium led by Asea Brown Boveri Inc. of Montreal and Westinghouse Canada Inc. of Hamilton has been identified as a potential buyer of UTDC, which operates the Can-Car Thunder Bay Works plant as well as two plants in Kingston, Ont. UTDC is still waiting for the final go-ahead on two major projects worth a total of $1.5 billion - a subway in Ankara, Turkey and a sky train in Thailand. In November UTDC received a $51.5-million contract to supply 40 rail cars to Los Angeles, plus an option to supply 20 to 40 additional cars. Work was expected to begin this month with the completion of a contract for Go Transit of southern Ontario.
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Title Annotation:Lavalin Industries Inc. sells stake in UTDC Inc.
Publication:Northern Ontario Business
Date:Jun 1, 1991
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