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Mackenzie mill doomed from the start
Alberta owner Mackenzie pulp mill was funded by a short term mortgage at 42 percent annually, a level industry specialists deem unsustainable. Dan White obtained a 10 million dollar loan through Bernie Van Maren, with plans to repay via long term financing. The mill, once employing 250, faced collapse tied to the global credit crunch and provincial costs, leaving Mackenzie without its main employer.
MENTIONED IN THIS ARTICLE
Mackenzie
Alberta
The
Vancouver Sun
Worthington Mackenzie
Dan White
Chilliwack
Bernie van Maren
Richard Bassett
Port Alice
BBC Capital Markets
B.C
the Sun
van Maren
White