nackawic, new brunswick

The town of Nackawic is located 65 km west of the city of Fredericton on the north bank of the Saint John River in New Brunswick, Canada. The town occupies an area of about 9 km² and is surrounded by the parishes of Southampton and Queensbury with the Village of Millville 10 km to the north. Latitude and Longitude: 46.00N, 67.24W. right

History

The area was first settled in 1784 by United Empire Loyalists, primarily through land grants to the families of soldiers who had fought with His Majesty's Regiment of Queen's Rangers during the American Revolutionary War. It was previouslyly known as the town of Otis. The town became known by its present title in 1976, shortly after the completion of the Mactaquac Dam. Nackawic is home to the world's largest axe.

Mill closure

The town's principal employer, from 1968 until September 14, 2004, was St. Anne-Nackawic Pulp Company Ltd. The sudden closure of the town's principal employer put 406 people out of work. About 350 contract workers in the middle of a maintenance shutdown were also affected. A buyer is being sought for the plant, which manufactured high-quality photo paper. The owners, Parsons and Whittemore of Rye Brook, New York, have relinquished title to the plant and equipment in an effort to attract potential buyers. Both J.D. Irving Ltd. and the New Brunswick provincial government have stated that they are "not interested" in buying. George Landegger, chairman and CEO of Parsons and Whittemore, is said to be responsible for ordering the shutdown. The company, which owes $101.2 million to its creditors, including $50.2 million to unsecured creditors, has declared bankruptcy. Some workers have agreed to work without pay in order to make the mill more attractive to potential buyers. Other workers have proposed buying the mill and running it themselves. Quebec-based frim Tembec has entered negotiatons with the stated intent of buying the plant.

Affected companies

Logistec Corporation ( http://www.logistec.com/ ). (TSX Symbol: LGT.A and LGT.B), a cargo-handler operating primarily in eastern Canada and the eastern U.S.
Wallenius Wilhelmsen
Star Shipping