Sometimes The Little Guy Wins
Nanaimo, Vancouver Island, Canada
News came out to the public today that the consortium of workers, managers and investors pulled off the rescue of the biggest industry in town.
The four partner groups that make up Nanaimo Forest Products became the proud new owners of the Harmac pulp mill on Friday afternoon.
NFP, consisting of a group of Harmac's employees and managers, Pioneer Log Homes, Totzauer Holdings and the Sampson Group, successfully met the Supreme Court-ordered deadline to buy the mill for $13.2 million.
The forestry industry in BC has been hard hit in the past few years with many layoffs and shutdowns. It may be that NFP will show the province the way to reverse that trend.
View Larger ImageJim Slotte, the most senior Harmac worker at 47 years, raises the flag, signifying the new ownership of the mill for Nanaimo Forest Products. Plans are for almost 200 Harmac workers to eventually return to work.Jeff Boyce/Daily News Email to a friendPrinter friendlyFont:
A group of obviously overjoyed workers, along with representatives from NFP's other partners, gathered at the mill's gate before the handover was official and took part in a ceremony to raise the Harmac flag.
"We like the product so much, we bought the company," said worker Doug Narver to the amusement of his fellow workers.