Timmins plant sold to Swiss company.
Swiss company INEOS has purchased Calabrian Holdings Corp., which is building a liquid sulphur dioxide manufacturing plant in Timmins.
INEOS announced on Aug. 2 it had acquired 100 per cent of the shares of Calabrian, which is headquartered in Texas.
Calabrian began construction of its Timmins plant in 2015, and is estimated to be complete by year's end. The Timmins facility is estimated to create 65 jobs: 45 jobs during the construction phase and 20 permanent jobs once the facility is complete.
Liquid sulphur dioxide is used to eliminate the cyanide used in gold production in a manner that doesn't harm the environment.
"We are very pleased to have acquired this modern production facility in Texas and look forward to the completion of the Canadian facility late this year," said INEOS CEO Ashley Reed in a release.
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