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ebruary 20,

Labor leader unimpressed b

1987 News 985-2131 Classified 986

NORTH VANCOUVER-Burnaby MP Chuck Cook has predicted that Versatile Pacific Shipyards Inc. wili definitely get the $400 million Polar Class 8 icebreaker contract.

In the wake of Versatile Corp.'s sale of Versatile Farm Equipment Ltd. t¢ Ford New Holland Inc. for $180 million, Cook said, “} am now convinced Versatile will get the (Polar 8) contract.”

But continued predictions have failed to impress the local shipyard industry.

“We've been having that con-

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By TIMOTHY RENSHAW News Reporter

tract since June.’ Marine Workers and Boilermakers Industrial Union (MWBIU) John Fitzpatrick sitid Thursday. ‘Like { told you before, I've given up. IIb only be convine- ed (Versatile has the contract)

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when they come out here and an- nounce it."

The sale of Versatile’s money- losing farm equipment subsidiary follows the sale of Versatile’s Eastern Canadian shipyards to Marine Industries Ltd. at the end of January,

Both sales are intrinsic in solving the financias problems faced by Versatile Pacifie’s parent company that resulted in a $42.20 million Versatile Corp. loss in the third quarter of 1986 and have postpon-

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ed the announced awarding of the Polar 8 contract.

But Cook said that even with the financial realignment of Versatile, the choice of Polar 8 design must sull be finalized before any icebreaker contritct announcement will be made.

That decision, he said. is still weeks away, ‘tso don't hold your breath."

Fitzpatrick pointed out thay icebreaker construction would not begin at Versatile until 18 months

after any contract was awarded.

Options for area shipyard workers after a year on unemployment insurance, he said, would be to leave the industry, look for work in Eastern Canada or go on welfare.

Over the last two months, Ver- satile Pacific has cut its trades workforce by one sixth, its office staff by 37 per cent and laid off 23 of its upper management personnel _in North Vancouver and Victoria.