Company gives $4.5M back to B.C. after failing to re-start paper mill operations

Paper Excellence Canada, after failing to re-start paper operations at a Vancouver Island mill, is returning millions of dollars of funding to the provincial and federal government.

Now, Paper Excellence has returned $4.5 million in provincial funding that was to go toward re-tooling the paper line, and the company said in a statement that it is “working through the administrative process” of returning the federal funding, too, previously announced as $14.3 million. A spokesperson from the B.C. ministry of jobs, economic development and innovation confirmed in an e-mail that the $4.5 million has been returned.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ontario company unveils first-ever paper bottle machine'It's quite amazing once you really see it get going': KinsBrae Packaging is going global
Source: SooToday - 🏆 8. / 85 Read more »

Trump's social media company will go public after merger with shell company is approvedNEW YORK (AP) — Donald Trump is returning to the stock market. Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the former president’s media business in a Friday vote.
Source: SooToday - 🏆 8. / 85 Read more »

Business Excellence Awards nominees announcedThis year’s theme is 'Soaring to New Heights.'
Source: tbnewswatch - 🏆 75. / 51 Read more »