Winnipeg Free Press

Winnipeg Free Press (Newspaper) - August 3, 1988, Winnipeg, Manitoba I 11 business Hyundai Plant fears Wall Street Hopes soar in Winnipeg free press August 1988 Page 18 Fleet of a320s will take place at air Canadas overhaul base in Winnipeg bulk of Jet work air Canada says Montreal Only handling major engine overhauls by Murray Mcneill an air Canada official reiterated yesterday that the bulk of the maintenance work on the airlines new Airbus a320 jetliners will be done in not Norm Garwood was responding to recent Media reports which stated that the major overhaul work on the planes checks that Are required every four or five years and involve a major rebuilding of the aircraft would be done at the airlines Montreal maintenance Manitoba Liberal Leader Sharon Carstairs also was quoted in a weekend Media report As saying that Winnipeg would not Benefit As much As air Canada officials led people to believe when it announced july 20 that the Manitoba capital had been chosen As the maintenance Centre for its new a320 Carstairs said it now appears that All the big work would be done in while Winnipeg would get All the piddly but Gan Vood said that not the he said the Only a320 maintenance work that will be done in Montreal is major engine Over All other maintenance and overhaul including d will be done at the Winnipeg he that the same As is the Case with our Boeing our commitment is to maintain the a320 Fleet in Winnipeg to the same de Gree we maintain the 727 Fleet there Garwood said major engine Over hauls will be done at the Montreal base because its the Only one equipped to do that Type of he added that All of the airlines air plane engines Are overhauled air Canada plans to spend billion to Purchase 34 of the euro pea built Airbus passenger jets to replace its aging 727 As it has taken out options on another the phasing out of the airlines 727s will coincide with the arrivals of the new delivery of the will Start in 1990 and continue until a local air Canada spokesman said the transition from the use of 727s to a320s would be gradual enough that it wont have any Impact on the workforce at the Winni Peg he said the Winnipeg facility wont have to be altered physically to accommodate the new but a Crew of Manitoba workers will be sent to France to he trained in repairing the air Canada officials also said last week that the airline plans to actively pursue contracts to ser vice a320s for other North Ameri can and that the bulk of that work also would be done in Ackland profits dip despite sales gains Ackland has recorded a de Cline in profits for the first six months of the current fiscal financial figures released yesterday net income for the period ended May 31 was million a drop of nearly from last years first half figure of operating income also was Down million to just Over the losses came despite an million increase in sales for the company president Robert Lane noted in a statement to share Lane said first half sales this year totalled that com pares to million for the first six months of last Strong sales also Are forecast for the second half of the Lane the Only exceptions will be portions of Manitoba and Saskatchewan which have been particularly hardhat by the current he he said the Winnipeg based com Pany also plans to continue its efforts to reduce costs and Stream line management since March 1 the firm has reorganized its Quebec consolidated its operations in Thunder and reduced its corporate staff by 10 per he As it has formulated actions plans which will enable it to dispose of its no profitable specially Busin reduce inventory and Consoli Date duplicate Ackland is a National whole automotive parts and Industrial products trading firm formed Vancouver new International trading House has been formed by a Canadian and a state owned chinese company to Market chivas resources and equipment in the provincial government announced trans Asia import Export is a joint venture Between Vancouver based International trans Asia trading which will own 80 per cent of the new and the shaan i province Branch of the China National metals and minerals import Export the trading House will be head quartered in Vancouver to Market news products in North America and Southeast including raw a Metal products and titanium penalties sought Vancouver the superintendent of brokers announced yesterday he will ask the British Columbia securities commission to penalize two directors of a Vancouver Stock Exchange company for insider Trad superintendent Neil de Gelder has alleged Harold Baker and Thomas while serving As directors of Greenwell resources bought shares of the company on the basis of undisclosed the securities act prohibits any person in a special relation ship with a Public company from personally profiting from information which has not been generally disclosed to the newspaper planned Toronto Toronto Sun pub Lishing has resurrected a plan to launch a daily newspaper in company presi Dent Douglas Creighton Creighton told the 141st sales con Ference of the International newspaper advertising and marketing executives the company has completed a Deal to buy a commercial printing firm serving the its a Canadian journalists dream to Start a newspaper in the capital of the United Creighton store Sale agreed Montreal proviso has signed an agreement to Purchase 15 Lucky Beta super of with annual sales of approximately million the Montrea based food com Pany said other financial details were not suitors begin courting ritual for Canadian Oil and Gas giant Calgary up prospective suitors began the courting ritual yesterday after Texaco announced it will sell its 78percent interest in Texaco husky Oil and Canadian Occidental Petroleum reconfirmed their in Terest in the Toronto based Oil and Gas company just hours after Texa co president James Kinnear announced the company Canadian Arm was on the Block As part of Texaco us restricting i think there will be a lot of Nova chairman Bob Blair i certainly think husky will be one of but husky will have to see what Texaco has in mind before it decides whether to pursue Texaco Canadas Blair will we make a bid that de pends on what the opportunities it Blair said husky executives would Call White in the next couple of Days to discuss the Sale with Texaco Al Cash offer husky which is controlled jointly by Nova and Union Faith of Hong Kong made a pitch to buy Texaco Canada last Blair and husky president Art Price told Tex Aco officials husky would be willing to make an Al Cash offer for the company interest in Texaco Cana Texaco want seeking buyers at that time and no formal offer was Canadian Occidental Petroleum made Public its interest in Texaco Canada about the same time and officials said yesterday the company is still our position has not said company spokesman John we will be taking a look at Gulf Canada has also been suggested As a but a company spokesman said no talks Are Gulf remains interested in expanding in Canada or International Blair lot of either through exploration or but it is not aggressively pursuing Texaco Canada at this he Noreen Energy resources once reported to be a potential buyer wont be making a company spokesman Ian Seth Texaco Canada owns two refineries and two lubricant blending and grease making plants in the subsidiary has Texaco Brand retail outlets across the operation controls per cent of the Canadian Petroleum products Market and per cent of the gasoline Texaco invited expressions of in Terest from qualified prospective purchasers of Texaco Kin near said Texaco decided Selling its Canadian subsidiary was the Best Way to maximize its value to the Parent company and its share hold the Sale is part of Texaco restructuring the Keystone of which was a payment to Pennzoil to Settle a lawsuit resulting from Texaco 1984 acquisition of Getty Oil after Pennzoil had made earlier moves to acquire Industry analysts predicted yes Terra the Price tag for Texaco Canada the fourth largest Oil company in Canada could rank any Deal among the largest in Canadian corporate it would be right up there with dome suggested will an analyst with Peters and Amoco Canada is currently completing a Deal to buy dome for a record amount for a Cana Dian Gobert estimated Texaco Canada May be Worth Between billion and billion Texaco shares Are Worth about billion can at its current Stock free franchise introductory seminar for fast food franchising August 4th this one hour seminar gives you an insight into what to look for in fast food fran for registration Call Fehr at 4532662 n Lowe for that romantic getaway v private fresh water Jacuzzi jetted Whirlpool love tubs v private saunas 9 log burning fireplaces v luxury accommodation on tie rugged Canadian shield West Hawk 13494209 i Raton travel franchise Canadas finest travel franchise company has a Well established profitable business Opportunity in North minimum Cash required our franchise enjoy Job financial inde excellent return on in 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