News Release Archive

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

"I am confident there is a future for this plant and its

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."


Contact: Margaret Murphy  902-424-4880

trp                     Apr. 16, 1997 - 3:10 p.m.