LEVIS, Que. — — Ship builder Davie Yards Inc. has secured a $10-million loan agreement with Investissement Quebec, continuing its measures to protect itself from an expected cash shortfall more than a year after its purchase by Norwegians. The company said the 48-month, 9-per-cent-interest loan provided under the Strategic Support for Investment Program will be funded “in the coming days.” “We are pleased to see the continued support from Investissement Quebec and the Quebec Government through their PASI-program, and we believe that the Company now is significantly closer to securing the long-term activity at the yard,” CEO Steinar...
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