The old STACE factory could soon come back to life

A developer made an offer to purchase the Matane plant which belonged to the company specializing in solar energy Saint-Augustin Canada Electric (STACE). The company from the Quebec region had acquired it from the wind power giant, Enercon.

The mayor of Matane, Eddy Métivier, refuses to give the slightest clue about the identity or projects of the industrialist. He maintains that it will be up to the promoter to announce his intentions in due time.

Eddy Métivier says he met the developer and according to him, the project meets the expectations of the City which has also waived its right of pre-emption.

It is a very, very beautiful factory which will fall into very good hands to ensure economic development for our city and jobs.

STACE bought the factory three years ago, but ultimately never launched production in Matane.

The building has been put up for sale under the terms of the Bankruptcy and Insolvency Act.

In the event that an offer was submitted, Matane could exercise a right of pre-emption. This is a legal measure that would have allowed the City to match a developer’s offer. Among other things, it helps prevent speculation.

We could have equalized and ourselves become purchasers of the land and the building infrastructure and, at that point, use it in another way to either resell it to other developers who would have created jobs there.

Eddy Métivier specifies that the City officially announced that it will not exercise this right during last Monday’s council meeting.

[Le promoteur] has submitted a formal offer. We had 60 days to respond and today the council approved the decision that we are abandoning our right of pre-emption.

We tried without success to contact the manager of the MNP firm who has the mandate to supervise the sale of the old factory.

According to public documents, the plant and its equipment are valued at $16.5 million.