Gaspésia
The gaspésia is a factory of pastes and papers belonging to Abitibi-Consolidated. The closing of the factory was announced in a dispatch of the agency of news Canadian Presse published on October 29th, 1999 in the daily newspaper the Press. During its permanent closure, a number of approximately 500 employees were put at foot. Its project of revival showed one of the financial fiascoes most important of the Quebec. The costs of the project of modernization of the factory exceeded the budget estimates of more than 265 million Canadian dollars.
On the edge of the bankruptcy, Gaspésia concluded with 29 from its 33 principal creditors an arrangement in June 2005. This arrangement was adopted after a legal saga of more than 18 months. the saga is still not finished, the town of Chandler, where the factory is established, repurchases the installations to resell them when the economic situation is more favorable. The transfer of property is not finalized yet, it is announced as long as the agreement with the creditors.
At the time of the debate of the chiefs of the 2003, Bernard Landry was shown by Jean Charest to have been the ultimate person in charge of this business, to have supported the project until the any end. Political analysts then affirmed that this stake allowed the election of the liberals in 2003.
Source:
Press Canadiene. " It is done by it Gaspésia factory in Chandler" , La Presse, Economy, Montreal, October 29th, 1999, p. C3
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