Sural under the protection of its creditors

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The hundreds of workers who were victims of the closure of the factories of Sural Bécancour and Victoriaville may not be able to receive in full what is due from the company in difficulty.

As they are not considered as secured creditors, they will expect, at most and under the law, get about 7000 $.

“It is sure that there are workers who have not taken their vacation. There are payroll not yet paid, and we do not know if they are going to pay next week. And there is the severance pay for termination of employment up to eight weeks, given that they knew it at the last minute,” said Alain Croteau, director of the united Steelworkers union.

Sural was placed on Tuesday under the protection of the Law on arrangements with creditors. The company is crumbling under a debt of $ 140 million, including $ 80 million in loans from Investissement Québec.

Forty million dollars are due at the Bécancour Smelter (ABI) for supply of molten metal. A good part of the decline of Sural comes from its new plant in Victoriaville, which proved to be much less productive and profitable than expected.

The workers of Bécancour are shocked of this situation, since their factory to them was considered as efficient and cost-effective.

“It was all a little current on the inside of the walls that there was a problem in Victoriaville and in the background, it is the rest of us, it was embarked in the same boat with them, and we sank with them,” said Pierre-Luc Pronovost, an employee of Sural-Bécancour.

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The documents in court indicate that the 10% surtax imposed by the United States on imports of aluminium of Canada also hurts to Sural.

We made aluminum rods in Bécancour and Victoriaville. The mayor of Bécancour, Jean-Guy Dubois, mourns the loss of a company active in the transformation of metal, a niche industrial identified as the bearer of future and pay. “In the language of sports, one could say that in Bécancour, it was difficult to paste two”, regretted strongly Mr. Dubois.