CORNER BROOK Corner Brook Pulp and Paper’s active and retired unionized employees have approved the proposal to apply funding relief measures to their pension plan’s deficit.
According to parent company Kruger Inc., these relief measures were essential to the mill’s ability to compete in the market and will enable the company to pursue its assessment of the mill’s long-term viability.
The final report on voting was issued earlier Friday by independent auditor Brian N. Hillier. The number of objections to the proposal were 19 of the 321 active members and seven of the 645 retired members.
The next step will be for the company to present a sustainability plan to its lenders and to the Government of Newfoundland and Labrador in the coming weeks.