But during the Court of Queen's Bench hearing last week, it was revealed the banks were not willing to put more money into the struggling strawboard plant. They want the plant closed. It was the opposite of what Ridgeway had been hoping for. He had hoped Isobord could put its financial problems behind it and concentrate on the business of manufacturing and marketing its product. Jan Lederman, Isobord's acting chief executive officer, did not reply to requests for an interview.
Taxpayers also have a stake in the strawboard plant.
Two Manitoba venture capital firms also have millions of dollars invested in the plant. The Isobord plant uses straw mixed with resin to manufacture board for furniture, countertops, shelving and cabinets. The company has repeatedly stated that its difficulties stem from a design flaw in the plant that keeps it from reaching full production. Send us an e-mail. Not to be republished without permission.