Displaying items by tag: liquid
Catalyst Paper, City of Powell River achieve unique tax solution
Catalyst Paper and the City of Powell River have inked an agreement in principle to achieve the twin objectives of reducing the Class 4 property tax rate paid by the company's Powell River mill while assisting the City in reducing significantly its capital expenditures for future municipal service infrastructure.
"Council committed to looking for solutions to the major industry property tax in Powell River,"
said Mayor Stewart Alsgard. "We have held frank, realistic discussions with Catalyst culminating in a very positive outcome that reflects the needs of the community and provides for a way forward under challenging circumstances."
Under the agreement, the City has committed that the company's annual property taxes payable to the City will not exceed $2.25 million for five years. In addition, the City and Catalyst agreed to jointly pursue environmental permit amendments and related arrangements that would enable a 20-year service agreement valued at $750,000 annually in the first five years, under which Catalyst will treat the City's liquid waste using the mill's effluent system and burn the City's bio-solids in the mill's waste wood boiler.
"We saw that we both had a cost problem associated with municipal services. And we came to a shared conclusion that, going forward, the City's circumstances could be addressed more cost-efficiently by making our mill infrastructure available for municipal use," said Richard Garneau, Catalyst president and chief executive officer. "Cooperation and flexibility helped us take a big step toward the $1.5 million property tax goal, and together the City and Catalyst were able to find a solution that's right for Powell River."
The agreement will see Catalyst drop its legal appeal of the City's 2009 municipal tax levy and pay into trust $2.5 million in outstanding 2009 municipal property taxes including penalties and interest, pending the City's completion of arrangements for implementing its 2010 business plan with the provincial government. Related commitments by the company include sale to the City of the mill's unoccupied administration office building and associated lands for a nominal price, and a four-year mortgage extension to PRSC LLP, a three-way partnership with the City and Tla'Amin First Nation formed in 2006 to facilitate local economic diversification through land sales.
The City and Catalyst will also explore a variety of joint economic development initiatives and a revenue upside contribution arrangement, capped at $500,000 annually, based on the Powell River paper mill's ability to achieve a return on capital employed in excess of 10%.
Catalyst Paper manufactures diverse specialty mechanical printing papers, newsprint and pulp. Its customers include retailers, publishers and commercial printers in North America, Latin America, the Pacific Rim and Europe. With six facilities located in British Columbia and Arizona, Catalyst has a combined annual production capacity of 2.5 million tonnes. The company is headquartered in Richmond, British Columbia, Canada and its common shares trade on the Toronto Stock Exchange under the symbol CTL. Catalyst is listed on the Jantzi Social Index® and is ranked by Corporate Knights magazine as one of the 50 Best Corporate Citizens in Canada.
Located on the Sunshine coast 125 km north of Vancouver, Powell River is a vibrant and progressive community of approximately 13,500 with access to Vancouver, Vancouver Island and the Sechelt Peninsula. Powell River has an extensive variety of recreational activities and festivals, excellent schools, a modern multi-purpose recreational complex, golf course, new hospital and an active arts community. With something for everyone, Powell River has a high quality of life in a natural and beautiful environment.
For more information:
Lyn Brown
Vice President, Corporate Relations
Catalyst Paper Corporation
604-247-4713
Stan Westby, CA
Chief Administrative Officer
City of Powell River
604-485-8618
Obama Joins in on the Black Liquor Two-Step
The Obama Administration announced today that it wants to close the non-existent "Son of Black Liquor" loophole to help "pay" for new healthcare legislation.
A few hours later, Senate Democrats won a key vote on jobs legislation that, in some versions, would be paid for partly with the "savings" from closing the same mythical loophole.
Meanwhile, the watchdogs of the news media acted more like lapdogs, taking Administration and Congressional statements at face value without bothering to check the facts. For example, a New York Times article on Obama's proposal states flatly, and falsely,: "Rescinding the 'black liquor' tax credit could generate as much as $24 billion in revenue over 10 years, helping to pay for a chunk of the health care legislation."
The Hill went further astray by saying the Obama proposal "rescinds the 'black liquor' tax break abused by paper companies that claim undeserved alternative fuel tax credits."
"Current law provides a tax credit for the production of cellulosic biofuels," notes the Obama Administration's summary of its new healthcare bill. "The credit was designed to promote the production and use of renewable fuels. Certain liquid byproducts derived from processing paper or pulp (known as 'black liquor' when derived from the kraft process) were not intended to be covered by this credit. The President's Proposal adopts the House bill's policy to clarify that they are not eligible for the tax credit."
Gardner Denver Nash has expanded its “Vectra” model range series
Gardner Denver Nash has expanded its "Vectra" model range series of liquid ring vacuum pumps and compressors: The NASH Vectra XL 750 is designed and built for suction capacities of up to 7,000 m³/h and can be used as a vacuum pump as well as a compressor.
When operating as a vacuum pump, suction capacities of up to 6,800 m³/h can be achieved and the vacuum range can reach 50 mbar absolute. As a compressor, the NASH Vectra XL 750 handles up to 7,300 m³/h and achieves a discharge pressure of 3 bar absolute.
Due to single-point inlet and discharge connections, the need for manifolds is eliminated. This simplifies the layout of the piping to and from the process and reduces installation costs.
NASH Vectra XL 750 liquid ring vacuum pumps and compressors combine maximum reliability with flexibility and are available for a wide range of applications, including the chemical process industry and filter applications in paper manufacturing. O-ring seals and oil lubricated bearings are used to meet the most demanding requirements and, as always, Gardner Denver Nash uses state-of-the-art manufacturing procedures to achieve optimum performance and operating efficiency.
The NASH Vectra XL 750 is available in ductile iron or stainless steel.
ATEX certified NASH Vectra XL vacuum pumps and compressors, complying with guideline 94/9/EG in categories 1 and 2, are available for explosive categories and for the handling of explosive media.
Reliability, efficiency and flexibility make the NASH Vectra XL 750 an outstanding liquid ring pump for use in demanding applications.