Monday, August 23, 2010

For Sale Sign Back on Hydro Dams


There's renewed concern over the potential future of Abitibi-Bowater's hydro-electric dams in Northern Ontario.

Kenora-Rainy River MPP Howard Hampton says the company is again looking to sell its dams in Fort Frances and Iroquois Falls, which he says will hurt local Mills.

"It will make it more difficult for Fort Frances," says Hampton. "All of that will rebound on the sawmills. Every time you lose a paper machine then there's one less for sawmills to sell their wood chips and residuals."

A previously sale of its hydro-electric assets was put on hold when AbitibiBowater entered creditor protection in April 2009.