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From Tuesday, May 1, 2007 Cape Breton Post

Cape Breton Castings attracting interest

Local businessmen kicking plant's tires

Section: Business

By Wes Stewart,
A group of local businessmen headed by Jim Kehoe of Joneljim Concrete Construction will make a proposal for the troubled Cape Breton Casting plant.

Kehoe confirmed Monday a proposal is being prepared in time for Friday's deadline for submissions of interest in the die-cast manufacturer.

He declined to say too much about the proposal until it has been submitted, but suffice to say it will involve eight to 10 unnamed local people.

"We don't know how many (people) will be putting a proposal in, we don't know if we will win or not but we have confidence that we have a good bid."

The players involved in this bid have been successful people in the community, he said.

Ernst & Young, the agent for the plant's owner Enterprise Cape Breton Corp. and the plant, has been getting moderate to high interest in the business, said manager Mat Harris.

Casting is in a good position for a sale with the benefit of a sole source customer next door. The company makes aluminum die-cast parts for Tesma PFC, a subsidiary for auto parts giant Magna International.

"With a couple of changes that we have identified, the Casting plant could be financially attractive," Harris said. ECBC has set early July as the deadline to firm up a buyer or failing that to dispose of the assets.

Hope floats

Eyking appeals to minister of transport for help with Sydney harbour 'eyesore'

Section: News

By Greg McNeil,
There is renewed hope something will be done with the derelict vessel in Sydney harbour after the issue was floated in the House of Commons, Monday.

Sydney-Victoria MP Mark Eyking used his members statement prior to question period to address the Cape Ann III which is partially submerged near the Keltic Drive bridge.

"Mr. Speaker, despite all these positive results, Sydney harbour also has an eyesore that has potential danger," Eyking said in Parliament.

"At the end of the harbour is a rusted out derelict vessel named the Cape Ann III. Mr. Speaker, I would encourage the minister of transport to become a friend of Sydney harbour and order the removal of this vessel immediately."

Reached Monday afternoon, Eyking said his statement on the 175-foot derelict stern trawler received a quick response from Minister of Transport Lawrence Cannon.

"He looked over at me and waved me over after (question period). He said 'What can I do to help with this situation?' I said 'You have to order your department to remove it. It is a simple as that.' He said he is going to look into it."

Eyking described his statement as a "polite way" to ask Cannon to "be a friend of Sydney harbour."

"I was fortunate enough to have (the statement) right before question period started, so the prime minister and everybody was in the house."

The local MP also used his floor time to talk about positive developments in the Sydney area - a harbour cleanup, new sewage treatment plant, the Wentworth Park makeover, boardwalks, and the tar ponds cleanup.

The Sydney Port Authority's investment in the Joan Harriss Cruise Pavilion, the Steve Kavanaugh Stage and the giant fiddle were also included in his one-minute statement.

"There were two things I was trying to achieve. One was to recognize what a great job being done in Sydney harbour the last six or seven years. But at the end of the harbour we have this vessel that is a big eyesore and a danger."