Quebec Offers Financial Aid To AbitibiBowater
Stock quotes in this article:
ABH
MONTREAL (AP) — The Quebec government has offered newsprint maker AbitibiBowater Inc. a loan guarantee of up to $100 million in an attempt to save jobs in the province a day after the debt-laden company filed for bankruptcy court protection.
Quebec Finance Minister Raymond Bachand said Friday that the government wants the province to retain as many of the 7,500 jobs as the company restructures. The U.S. based company, which has administrative headquarters in Montreal, has faced collapsing demand for its newsprint as advertisers abandon newspapers for the Internet. Its debt is more than $6 billion.- Loading Comments...
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