Business Services Industry
3 Xstrata grabs Canadian foothold in Sudbury.(Xstrata PLC)
Northern Ontario Business, December, 2006 by Ross, Ian
The arrival of European mining giant Xstrata in northeastern Ontario should herald "the dawn of tremendous expansion" for the service industry and the economy, says a Northern Ontario mining industry watcher.
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The 2006 global bidding war for Falcon-bridge and Inco will be regarded as a milestone moment for Sudbury and Timmins in the years to come, says Jean-Charles Cachon, a professor of organizational strategy at Laurentian University's faculty of management.
"It's going to be important because it's basically a leap into another league."
Falconbridge and its cross-town Sudbury rival Inco, were second tier miners valued in the $10 billion range. "Now they're in the $20-billion league," says Cachon, among the...
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