FEA govt lifeline denied

The troubled Tasmanian timber company Forest Enterprises Australia has suffered another blow.

FEA has told the Stock Exchange its request to the Tasmanian Government for financial support has been rejected, and it will now ask its financiers for help, so it can restructure.

The economic development minister Michael Aird says the government continues to work cooperatively with FEA, and it will support workers who may be affected by any future developments.

Mr Aird says under caretaker conventions, he has kept the opposition fully informed.

More Quotes and Company Information:FOREST ENTERPRISES AUSTRALIA LIMITED (ASX: FEA.ax) ... read original article
Sat 13th March 2010 - 05:37am