November 25, 1996
(Works, Services and Transportation)
The following is being distributed at the request of Marine Atlantic:
Marine Atlantic president Rod Morrison says he is hopeful current efforts to sell assets of the former Newfoundland Dockyard Corporation will be successful by year's end.
Since the dockyard's closure at the end of July, two proposals have been received for the facility's assets and access.
"Marine Atlantic asked for and received business plans from the two parties in mid-November," Morrison says. "Upon reviewing the two plans, a preferred potential bidder could be selected by month-end, with a goal of negotiating an agreement for final sale of the facility by the end of this year."
Morrison noted that the company appreciates there is great interest in a timely sale of the dockyard, but Marine Atlantic has an obligation to exercise due diligence and take a conscientious approach to the disposal of the assets.
"The dockyard is essentially owned by the taxpayers of Canada," he says. "Our preference would be that any deal would be one which maximizes any potential returns, while offering the best chance for a new enterprise to continue as a city employer."
Contact: Doug Burgess, Public Relations Officer, (709) 772-5731.
| 1996 11 25 | 4:30 p.m. |
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