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St. Mary's defers upgrades (11/01)

St. Mary's Paper Ltd. is holding off on a multimillion-dollar investment into a state-of-the-art paper machine until slumping economic conditions turn around, company officials say.
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St. Mary's Paper Ltd. is holding off on a multimillion-dollar investment into a state-of-the-art paper machine until slumping economic conditions turn around, company officials say.

Installation of the machinery, which would produce supercalender paper, was slated to take place next year pending approval from its board of directors, but company officials say the upgrades will not take place until the spring of 2003 at the earliest.

The new technology would produce high-grade paper and may lead to the replacement of two of the mill's older paper machines.



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