Davie Industries shuts down, throws 1,060 out of work

Article Abstract:

Davie Industries Inc. of Levis, Quebec, has closed its operations, eliminating 1,060 employees. The company was forced to close its operations after the provincial government rejected a C$500-million bailout offer by its owner, Dominion Bridge Corp. According to Quebec Finance Minister Bernard Landry, Dominion's offer was just too risky for the government to accept. Construction of two Amethyst offshore oil rig, called the Spirit of Columbus, for two Brazilian clients were included in Dominion Bridge's proposal.

Comment:

Has closed its operations, eliminating 1,060 employees

Labor force information, Organizational history, Support Activities for Oil and Gas Operations, Oil Field Exploration Services, Article, Davie Industries Inc.

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New QSC head backs exchange move

Article Abstract:

Carmen Crepin, the new chairwoman of the Quebec Securities Commission, has announced her support to the proposed restructuring of Canada's stock exchanges. The reorganization is being opposed by the Caisse de depot et placement du Quebec, where Crepin was previously the vice president and corporate secretary. The caisse said that the restructuring would compromise the access to capital by Quebec-based small- and medium-sized businesses.

Securities and Commodity Exchanges, Government regulation, Securities Exchanges, Exchanges

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