AS VERSATILE Pacific Shipyards’ North Van- couver yard sinks into obli- vion, the News has compil- ed a chronology of events leading up to the demise of the North Shore’s largest shipyard. The former Burrard Dry Dock once employed thousands of workers from the North Shore and all over the Lower Mainland. But the 1990 cancellation of the $500-million Polar Class 8 icebreaker project’ by the Tory government has turned industrial vitality to financial anemia. Versatile's seven-hectare yard now sits idle, its future open to speculation. Under a financial testructuring plan put together over the past four months, Ver- satile hopes to sell its $60-million floating dry dock to offset debts and close its North Vancouver yard permanently after completing some steel cutting work for one or both B.C. Ferry Corp. superferry contracts. The slow death of Versatiie, 1ts North Vancouver site a shipyard since 1906, took about four years: 1986: *April: Capilano-Howe Sound MP Mary Collins calls for revival of shipbuilding in North Van- couver. “It is time to focus attention on the urgent needs of the ship- building industry in B.C. and s“roceed with plans to build a Class 8 icebreaker,"’ Collins tells the House of Commons. Collins later tells the News that “tam fighting hard for this (the $500-million Polar 8 icebreaker contract).” *June: A local coalition of labor, industry and municipal govern- ments is formed to lobby the fed- eral government for ivebreaker contracts for North Vancouver yards. The coalition heads to Ot- Requiem tor ship fA SPARKS fly as Versatile workers put the finishing touches on an icebreaker hull during more pro- sperous times, Chuck Cook casts Goubt on the Polar 8’s future. “There is a feeling that perhaps the Polar 8 is not what we need,” Cook tells the News. eAugust; Joe Clark, then-external affairs minister, visit. the North Shore and tells the News his gov- ernment is committed ta the Polar 8's construction: “We five decid- ed that we are going tc act on it (the Polar 8). For sovereignty reasons and for other reasons, it’s essential.” e*November: Versatile Corp., Ver- satile Pacific's parent company, NEWS photo Mike Wakefield VERSATILE'S Bill Evers poses in front of a 36,674-ton cruise ship in for repairs at the company’s North Vancouver yard in 1986, a year when the shipyard bid aggressively on ship-repair contracts. tawa, but returns with vague promises and sympathy from the federal government. Versatile’s labor force, in good years close to 3,000, is down to 1,100. MP announces fosses of $42.2 million in the third quarter of 1986, com- pared with a $4.7-million loss in the corresponding period of 1985. Shipyard workers miareh on Vancouver to comffont a visiting Minister Brian) Mulroney about the state of West Coast shipbuilding. MP Mary Collins assures the protesters that the Polar & deci- sion is coming. 1987: eJanuary: The $92-million Henry Larsen icebreaker is launched from Versatile’s North Vancouver yard, its last major shipbuilding project. Versatile Corp. sells off! its eastern Canadian = shipbuilding assets in the first step of financial reorganization. Awarding of the Polar 8 to Versatile continues to be delayed because of the finan- cial problems facing the corpora- tion, February: Layoffs at Versatile leave the North Vancouver ship- yard with about one-sixth of its trades people and about 60% of its office and technical staff; 23 upper management staff are also laid off. A shipbuilding company with three local partners offers to buy Versatile Pacific for close to $40 million. North Vancouver MP Chuck Cook predicts that Versatile will definitely be awarded the Polar 8 icebreaker contract. March: The federal government announces its intention to award Versatile the Polar 8 contract and gives Versatile $13 million in fed- eral loan insurance to help keep it afloat. May: Versatile Corp. announces a $136.1-million floss for 1986, which is more then double the corporation's loss ($60.9 million) in 1985, “Hopefully things are going to get better. They couldn’t get any worse,”’ Versatile Pacific president David Alsop says. Versatile Corp.'s $90-million debt is transferred to Hees Inter- national Corp. of Toronto. Hees also assists Versatile in the sale of its farm equipment subsidiary to Ford New Holland Inc. for $180 tmiilion, eJune: Versatile Pacific chairman Peter Paul Saunders resigns. eAugust: The federal government officially awards the Polar & con- tract to Versatile in a detter of in- tent; Versatile also receives $37 million from the feds to help it restructure and modernize Ver- satile’s North Vancouver and Vie- toria yards. The Polar 8's construction work is scheduled to begin in October 1989 with completion in niid-1992. An estimated 1,000 jobs will be created by the project. Alsop says the announcement gives Versatile ‘‘a new lease on fife.” yard Vancouver and Victorta yards to Shieldings Ine. of Toronto. The deal is io be completed in the new year. B.C. Pacific Capital Corp. (formerly Versatile Corp.) had owned the shipyard for 17 years prior to ihe Shieldings purchase. 1989; eApril: The Polar 8 project sur- vives the federal budget. eMay: Construction start on the Polar 8 is delayed to the spring of 1990 after cost estimates on a vessel with a diesel-electric pro- pulsion system push the project $70 million over budget. MP Mary Collins denies stories that the delays mean the Polar 8 will be cancelled. Bui tellow Tory MP Chuck Cook has a different view: ‘E've always had) serious doubts about whether it (Polar &) would get built.’’ Versatile president David Alsop announces that he will resign fol- lowing the completion of the company’s sale 1o Shieldings. eJuly: Versatile’s sate te Shieldings is finally completed. Shieldings pledges “‘to stabilize VPSE and turn around the for- tunes of the two vards."" Versatile boss Peter Quinn reportedly says that Versatile will get out of the shipbuilding business and sell its North Van- couver yard after the Polar 8 con- iract is completed. 1990: *February: The federal gosern- ment officially torpedoes the $500-million Polar 8 contract in its budget, sinking with it Yer- satile’s future viability as a ship- yard on the North Shere. The announcement is met with yaa NEWS photo Neii Lucente CROWDS gather for the Jan. 3, 1987 faunch of the $92-million Henry Larsen icebreaker, Versatile's last major ship launch from its North Vancouver yard. 1988: eFebruary: Versatile lands an $11.4-million contract to build (wo container cranes as part of its move to diversify its Operation. *March: A controversy rages over the percentage of Polar 8 work that will be done at Versatile’s North Vancouver yard. One third of Versatile’s North Vancouver seven-hectare yard is closed. Union leaders charge that the company plans to close the North Vancouver yard for com- mercial development. *April: Versatile Corp. becomes B.C. Pacific Capital Corp. Versatile Pacific lands a $16.4-million contract to build a hydrographic survey ship for Fisheries and Oceans Canada. eNovember: Versatile is awarded a $35-million contract to build two search and rescue vessels for the Canadian Coast Guard, but. vir- tually all the construction work on the ships is destined for Versatile's Victoria yard. eDecember: Versatile Pacific signs an agreement to sell its North focal shock and anger. North Vancouver District Ald. Ernie Crist, himself an employee of Versatile, says ‘Chuck Cook should be lynched on Lonsdale.”’ Says Cook, “I've always been pretty pessimistic about whether they’d go ahead with the whole project.’ March: Versatile lays off another 100 workers. The vyard’s workforce drops to 220. eApril: Peter Quinn announces that Versatile will no longer build ships at its North Vancouver yard, which will be used primarily for ship repair work. May: Versatile’s North Van- couver yard closes temporarily as all but a handful of workers ure laid of f. *September: Versatile wis a pro- vincial government contract for $120-million superferry. 1991: *March: B.C.’s Regional Econom- i¢ Development Minister Bud Smith says Versatile will close its efuly: North Vancouver Prime See Union page & A