News Release Archive
SYDNEY STEEL--FORMAL PROCESS FOR INTERESTED BUYERS ----------------------------------------------------------------- The Nova Scotia government expects to have solid proposals by mid-June from propective buyers of the Sydney Steel plant. Manning MacDonald, the minster responsible for Sydney Steel, announced today the government is entering into a formal "request for proposals" process to assess detailed plans from potential private-sector operators. "We're moving forward. We'll have solid proposals to look at by mid-June," he said. "They'll have to satisfy certain criteria and answer specific questions. We'll see the plans brought to the table for the long-term viable operation of Sysco and its workforce. "I am confident there is a future for this plant and its workers." The formal process will give interested buyers information about the history, operations and assets of the Sydney plant while at the same time securing for the government detailed plans from the potential buyers. Confidentiality on both sides will be ensured. Proposals, due by June 20, must meet specific guidelines and be subject to a qualifying process. "We'll see how companies plan to make Sysco an integral part of their strategic operations," said Mr. MacDonald. "We want to see the fit. Sysco cannot continue as an orphan. It must become part of a larger strategic operation or family of operations." -30- Contact: Margaret Murphy 902-424-4880 trp Apr. 16, 1997 - 3:10 p.m.