Released on May 27, 2005
The Government of Saskatchewan has been advised by Worldwide Pork Company that the pork processor is in ongoing discussions with producers and other investors to explore options for the reopening of the plant.Agriculture and Food Minister Mark Wartman said today the government, as a secured creditor, has a financial interest in the company, but also an interest in seeing the Moose Jaw facility resume operations for the sake of the industry's future growth.
"Processing more of the hogs we produce in the province results in jobs and economic activity for Saskatchewan," Wartman said. "We will work with the company, hog producers and investors to develop a solution for Worldwide Pork."
Wartman noted that the Government of Saskatchewan's role in the discussions is as a creditor in a private sector company. When the company was first starting up, the Province assisted proponents by purchasing a number of preferred non-voting shares, which were subsequently converted to a secured demand loan.
"We remain committed to building our livestock processing capacity in Saskatchewan," Wartman said. "The entire industry wants a solution that will preserve the capacity in Moose Jaw and the jobs associated with it."
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For More Information, Contact:
| Scott Brown Agriculture and Food Regina Phone: (306) 787-4031 |