Atcon in Trouble

!: Atcon in Trouble

A Manitoba-based company is suing Miramichi's Atcon Group for more than $ 1 million in unpaid bills, just months after the company received $ 50 million in loan guarantees from the New Brunswick government. Winnipeg's Industrial Commercial Equipment Manufacturing, which makes large furnaces and air systems, filed a notice of action in the New Brunswick Court of Queen's Bench in Fredericton on Aug. 24 demanding Atcon pay 16469. This complaint comes a week after a company official with Alberta's Tracer Industries told CBC News Atcon is delinquent in paying 6000. Rick Roneki, president of Industrial Commercial Equipment Manufacturing, said in an interview that he's been trying to collect the unpaid balance owed by Atcon since March. He said he assumed the New Brunswick government's $ 50million in loan guarantees would clear the way for payment. Roneki said Atcon's failure to pay is stretching his company thin financially at a time in the year that he needs some flexibility. "At this point in time of the year it affects my cash flow dramatically because we're building up inventory for our busy season in the fall. I know at this point I'm stretched with my bank because of the outstanding amount, "he said. Atcon didn't respond for a request to comment on the complaint. When the provinces extended the loan guarantees to Atcon in June, there was speculation that the company was having problems paying its bills. But Robbie Tozer, the company's chief executive officer, insisted at ...

Atcon in Trouble

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