Thursday, 30 June 2011

Conservatives give away Atomic Energy of Canada Ltd and pay the new owners $60 million

Atomic Energy of Canada Ltd. sold to SNC-Lavalin Group for $15 million - Winnipeg Free Press
Yesterday, the federal government sold crown corporation, Atomic Energy of Canada Ltd., to the Montreal-based SNC-Lavalin Group. The price tag was $15 million. But, the government also agreed to pay them $75 million for the development of AECL's enhanced CANDU 6 reactors.

Canada retains the rights to royalties on future sales which could reach about $285 million over 15 years (but if these are calculations from the Conservatives, considering their history with math, it is probably much less than this).

About 800 jobs will be cut from the research division.

This sale may leave current projects in New Brunswick and Ontario high and dry, without the promised federal funding.

Does this seem like a good deal for Canadians? I think not. As one commenter said: "Another corporate deal for Conservative friends."

The Conservatives are Looters In Suits - robbing Canadians and giving the money and resources to their wealthy friends.

Nothing here for most Canadians - move along.

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