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NB: Fraser Papers’ NB workers vote to accept deal
[EDMUNDSTON, NB] — CBC News is reporting that workers at Fraser Papers’ mill in Edmundston have voted in favour of a new contract that will slash their pensions, but hopefully help the company get back on its feet. For more information, read the story at: http://www.cbc.ca/canada/new-brunswick/story/2010/03/08/nb-fraser-papers-contract.html More
NB: $12 million in savings for property owners
[FREDERICTON, NB] – The province’s property tax accountability mechanism will result in lower property tax rates for New Brunswickers. Finance Minister Greg Byrne says the lower rates have resulted in more than $12 million in savings for property owners this year. Byrne says he is disappointed only five of 101 municipalities have adopted the rates under [...] More
NB: Repsol Energy aims to increase Canaport’s output
[SAINT JOHN, NB] — The Telegraph-Journal is reporting that Repsol Energy North America wants to double the quantity of natural gas being shipped from the Canaport terminal in Saint John to New England in 2010-2011. For more information, read the story at: http://nbbusinessjournal.canadaeast.com/front/article/973971 More
NB: Retailers claim fishing license system stinks
[FREDERICTON, NB] — The Times & Transcript is reporting that retailers are not happy with the government’s current system for selling fishing licenses, claiming it’s costing them more time, effort and money than they’re getting out of it. For more information, read the story at: http://nbbusinessjournal.canadaeast.com/front/article/972816 More
NB: Fredericton expects to build on housing success
[FREDERICTON, NB] — The Daily Gleaner is reporting that Fredericton’s prediction of a big boom in housing starts and sales is in line with a recent Canada Mortgage and Housing Corporation regional forecast. For more information, read the story at: http://dailygleaner.canadaeast.com/front/article/971438 More
NB: Atcon employees given two-week lifeline
[MIRAMICHI, NB] – Justice Thomas Riordon has appointed a monitor to determine if Atcon Construction, Atcon Industrial and Envirem Technologies can be salvaged by either a restructuring or a resale. More
NB: Daycare industry booming in Saint John
[SAINT JOHN, NB] – Increasing demand for more spaces has the daycare industry in Saint John scrambling to keep pace. More
NB: Government in hot seat for Atcon subsidies
[MIRAMICHI, NB] — The Telegraph-Journal is reporting that the government should be taking a major part of the blame for the current fallout from the Atcon Construction situation, according to the Canadian Taxpayers Federation. Its federal director says money should never be given to firms that are already besieged financially. For more information, read the [...] More
NB: Atcon’s future in question with bankruptcy filings
[MIRAMICHI, NB] — CBC News is reporting that Atcon Construction is now under bankruptcy protection after its main lender made two bankruptcy filings in a Miramichi court. For more information, read the story at: http://www.cbc.ca/canada/new-brunswick/story/2010/02/25/nb-atcon-bankruptcy-fitch-boudreau-401.html More
NB: Insolvent Fraser Papers takes another step forward
[TORONTO, ON] — The Canadian Press is reporting that Fraser Papers, which is operating under creditor protection, has cleared all the hurdles necessary to sell its specialty paper business, including amendments to collective agreements with its union. For more information, read the story in The Daily Gleaner: http://nbbusinessjournal.canadaeast.com/front/article/965493 More
NB: Downtown Moncton poised for change
[MONCTON, NB] – A new courthouse, a new multi-use arena and entertainment complex, several new retailers and two major housing projects are changing the face of downtown Moncton. The city’s business development specialist says Moncton is ready to take advantage of that change. Read the full story at http://timestranscript.canadaeast.com/front/article/964198. More
NB: Council warns delays will jeopardize Gateway vision
[MONCTON, NB] — The Telegraph-Journal is reporting that the future of the Atlantic Gateway is in question with no firm federal commitment as of yet for the concept, according to David Oxner of the Atlantic Gateway Advisory Council. For more information, read the story at: http://nbbusinessjournal.canadaeast.com/front/article/962916 More
NB: Get ready to “say cheese” with new $10M facility
[SUSSEX, NB] — CBC News is reporting that a group of private investors is planning a $10-million cheese plant near Sussex as part of the “Cheese New Brunswick project”. The plant is expected to generate jobs and boost the milk industry. For more information, read the story at: http://www.cbc.ca/canada/new-brunswick/story/2010/02/19/nb-cheese-factory-sussex-1139.html More
NB: Plazacorp looking to raise $20 million
[FREDERICTON, NB] – Plazacorp Retail Properties Ltd. intends to raise $20 million through a convertible debenture offering. The debentures, which bear interest at 7.5 per cent per annum, payable quarterly, will mature on March 31, 2015 and will be convertible into Plazacorp common shares at the option of the holder at any time at $3.80 [...] More
NB: Corridor plans $28.6 million capital budget for 2010
[HALIFAX, NS] – Corridor Resources Inc. plans a total capital expenditure program of $28.6 million in its capital and operating budget for 2010. The budget includes drilling and completing additional natural gas production wells in the McCully Field in southern New Brunswick, which are intended to maintain natural gas production and revenues from the field. The [...] More
