Cancarb no longer for sale

MEDICINE HAT, Alberta (Nov. 14)—TransCanada PipeLines Ltd. has pulled thermal black producer Cancarb Ltd. and an adjacent power plant from the market. In a letter to employees, the parent company expressed confidence in the two businesses and concluded they will continue to be solid contributors to the overall TransCanada operation. The company had been negotiating the sale of Cancarb with a group, ·but it became obvious it didn't need to sell us anymore—principally because it sold about $3.5 million of other assets earlier this year and no longer needed to address its balance sheet, according to, Cancarb Marketing Director Will Greenwood. Cancarb has been the subject of acquisition talks and rumors throughout the latter part of 2000 and all of 2001.