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Wednesday, November 23, 2011

COLLUS Not a Sale

Collingwood | by Catherine┬áThompson  

Collus explains search for 50 per cent partner.


More information is coming out about Collus' search for a strategic partner.

The utility held a public information session at the Leisure Time Club in Collingwood on Tuesday night.

Close to 30 people were in attendance, most of them Collus staff.

Collus -- which has just over 15 thousand customers in Collingwood, Stayner, Creemore and Thornbury -- is looking for a larger distribution company to invest in up to 50 per cent of the company. Right now the sole shareholder or owner is the town.

Collus President and CEO, Ed Houghton, adamantly says this is not a sale.

He says it's a partnership because they want Collus to stay in Collingwood and want to keep all of the company's 48 employees.

He says to him a partnership means each other perceives greater value than the other.

Houghton tells us a larger company as a partner will mean access to more resources than currently available and a reduction in costs.

He adds there might be a slight reduction in rates to its customers, but Collus doesn't have a lot of control over that.  He says the big thing is making more services available.

Collus has started a Request For Proposal or RFP process and so far has had four applicants, but Houghton says he can't say who they are because of non-disclosure agreements. But he does say one is provincially owned.

Once the candidates are narrowed down, Houghton says they will be discussed in camera with council on December 5th with a possible resolution to council on December 12th or 19th if things move forward.

 


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