Factory closed from Fortress to Thurso a savory invoice to feed the hope of recovery<

The Fortress cellulose factory located in Thurso, in Outaouais, is expensive in Quebec.In addition to expecting to draw a line on a loan of $ 100 million granted about a decade ago, the Legault government will have lent almost $ 40 million more to this company - still sheltered from itsCreditors - Since 2018.

And the state will probably have to contribute once again if a buyer finally decided to appear, according to the Minister of Economy and Innovation, Pierre Fitzgibbon.The latter has not yet thrown in the towel because he says he is concerned with the "structure of the forest industry" in Outaouais and in the Laurentians if the site disappeared for good.

"If it was only Fortress, perhaps we would have already made the decision to close," he explains during a telephone interview."But it's much wider than that.There are implications for the forest harvesting ecosystem.»»

According to a recent government decree, the Council of Ministers gave its approval for a new loan of 14.7 million in Fortress to cover the preservative costs, such as heating, from this factory to stop since October 2019 -who had sent some 300 unemployed people.

Une partie de la somme servira également à payer des « études concernant les perspectives […] en vue d’une reprise potentielle»».

« Il y a un processus en place, et on regarde ceux qui sont prêts à prendre des risques»», a dit M. Fitzgibbon, en ajoutant qu’il existait un scénario de « conclusion négative»» si « rien n’a été trouvé dans neuf mois»».

Established in British Columbia, Fortress Paper had mentioned the Sino-American commercial dispute when announcing its activities in Thurso.According to the company, this situation had reduced China's appetite for clothing and tissues, causing a decline in demand for the dissolving paste as well as a marked fall in prices.

According to the most recent report of the Deloitte controller, the price of the metric ton of the dough was US $ 640 in October 2019.It oscillates between US $ 1,000 and US $ 1,100.

Still under study

There are three scenarios on the table, according to M.Fitzgibbon: Close the factory for good, find a buyer capable of reducing production costs in the order of US $ 150 per tonne or finding a new vocation to the site.

« Il est fort probable de conclure que le gouvernement restera impliqué»», a dit le ministre, en convenant que le prêt de 102 millions de dollars effectué en 2010 ne valait « plus rien»».

The state had lent 102 million to Fortress in 2010 when the company had acquired the Thurso factory, which was closed, to convert its production from the Kraft dough to the dissolving dough.The project bill was initially estimated at 175 million;She finally jumped at more than 300 million due to cost exceeding.

Nothing has been reimbursed, the Ministry of the Economy confirmed to the press.

LucBouthillier, du département des sciences du bois et de la forêt de l’Université Laval, reconnaît qu’il est « logique»» pour le gouvernement québécois de tenter de sauver la « seule usine capable de produire des pâtes et papiers»» dans la région de l’Outaouais et des Laurentides.

Toutefois, l’expert croit que Québec doit « mettre son pied à terre»» et signaler aux repreneurs potentiels que l’État ne payerait pas pour la préservation des actifs indéfiniment.

"Politically, it's difficult," said M.Bouthillier.I think that keeping the factory alive is a good decision, but a schedule should be set.In this way, industrial actors will realize that it is in their interest to adopt a more cooperative approach.»»

In June 2020, the Legault government had said it had banged at the door of more than 115 potential buyers in the hope of attracting a buyer, without success.Since then, the price of the metric ton has resumed the hair of the beast.

According to M.Fitzgibbon, a outcome could occur by the end of June 2022.