Terrace Bay Pulp Waiting for Announcement

An update about talks between Terrace Bay Pulp and a third lender could come today. (Wednesday)
The Terrace Bay plant, which has been idle since March 2009, has spent the past few weeks recalling and hiring workers in anticipation of being able to resume making pulp some time next week.
About 400 people worked at the plant before a market slump and price crash forced it to shut down last year.
The province has agreed to loan the company $25-million, provided it can arrange $40-million in private financing.