“Date of Release : 28th June 2010
Motion Invest withdraws it's interests in the former Abitibi Bowater newsprint mill at Grand Falls-Windsor Canada
Motion Invest announced today that it has no longer any interest in the Abitibi Bowater newsprint mill at Grand Falls-Windsor Canada.
Motion Invest had been in confidential discussions to undertake a feasibility / viability study into creating a new non-newspaper print mill at Grand Falls-Windsor Canada.
However due to recent and wholly incorrect reports / statements that it was close to a deal to purchase the Abitibi Bowater newsprint mill in Grand Falls-Windsor Canada, Motion Invest has now decided to withdraw its interest.
At no time was Motion Invest ever close to preparing any offer for the Grand Falls-Windsor. Its interest was wholly subject to the completion of a feasibility / viability study into moving production at the Grand Falls-Windsor mills away from newsprint production.
Motion Invest has already spent over $ 75,000 conducting a preliminary review and site inspection of the mill regrets that the serious breach in the confidentiality and the misrepresentation of its interest in the mill makes the continuation of the project unviable.
Accordingly Motion Invest has been left with no option withdrawn its interest.”
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