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Mill restart delayed

An attorney for Buchanan Forest Products say they are asking for a further extension before restarting the Terrace Bay pulp mill.
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Yves Fricot (Jeff Labine)

An attorney for Buchanan Forest Products say they are asking for a further extension before restarting the Terrace Bay pulp mill.

Yves Fricot, general council for Buchanan Forest Products, said they are appearing in court on Friday to request a further extension of 60 days to complete their restart process.

"Last year we negotiated a term sheet with the province for a $25 million term loan," Fricot said. "That was intended to facilitate our exit from (the Creditors Arrangement Act) and the restart of operations. "

Fricot said a number of issues including raising more money for the mill delayed the restart. He said they hope to have a plan in May and a restart for the mill possibly in June.





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