Government of Saskatchewan ministries, Crown corporations and organizations are working to minimize the impacts of the postal service disruption.
Les ministères, les sociétés d’État et les organismes du gouvernement de la Saskatchewan travaillent à réduire au minimum les répercussions de l’interruption des services postaux.
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Released on November 22, 2013
Crown Investments Corporation (CIC) of Saskatchewan has sold its 25 per cent interest in the Meadow Lake Oriented Strand Board (OSB) mill to the majority owner and operator, Tolko Industries Ltd. for $30 million. CIC will recognize a gain of approximately $9 million on the sale.
The original investment was made in 2001 when the OSB plant was first built. Since then, the forestry industry has been through highs and lows, but is currently in the midst of a strong recovery, making this a good time to sell CIC’s stake.
“This sale is consistent with our government’s policy of letting the private sector lead economic growth and to get government out of direct investments wherever possible,” Crown Investments Corporation Minister Donna Harpauer said. “I am pleased that the Meadow Lake OSB will continue to operate under the guidance of an experienced and competent owner and I wish Tolko and their employees many years of profitable operation.”
“We want to thank our shareholders in the Meadow Lake OSB Limited Partnership over the last ten years,” Tolko Vice President of OSB and Kraft Paper Jim Baskerville said. “They have been valued partners and have played an important role in the longevity and success of the operation.”
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For more information, contact:
Randy Burton
Crown Investments Corporation
Regina
Phone: 306-787-5889
Email: rburton@cicorp.sk.ca
Cell: 306-535-7784
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