ANNOUNCEMENT 31 Jul 2014In July 2014, the government of Canada/Province of Quebec announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
http://www.canadianmanufacturing.com/manufacturing/1b-quebec-cement-plant-peril-rivals-launch-legal-action-142023/, http://www.dailycommercialnews.com/Resource/News/2014/8/New-massive-Quebec-cement-plant-still-under-fire-1001002W/, http://www.legis.state.pa.us/cfdocs/billInfo/billInfo.cfm?sYear=2013&sInd=0&body=H&type=R&bn=1071
A proposed new cement plant in the Canadian province of Quebec has come under criticism in both Canada and the United States.
According to the Cement Association of Canada (CAC) the McInnis Cement Inc.'s proposed cement plant in Port-Daniel-Gascons will benefit from a contribution by the government of Quebec. "'H'alf of the money comes from the provincial government," CAC official Michel Binette was quoted in the press following an announcement by McInnis Cement on July 31, 2014 about the completion of the financial structure for a new cement plant under construction in the Gaspé region.
The Port-Daniel-Gascons cement plant is being developed by McInnis Cement with an investment of $1.1 billion from private and public sectors, including $100 million from a joint venture formed by the groupe Beaudier and La Caisse de dépôt et placement du Québec (which manages institutional funds, primarily from public and private pension and insurance funds in Québec).
The House of Representatives in the Pennsylvania General Assembly approved a resolution protesting this investment, stating in part that the legislature 'express'es' its concern that a cement manufacturing plant funded by the Province of Quebec will negatively impact the cement manufacturing industry in Pennsylvania and urge's' Ambassador Michael Froman, the United States Trade Representative, to review the public funding for possible violations of international trade rules.'
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.