Bid process for STC assets begins

The Saskatchewan Transportation Company (STC) has started the sale of some of its assets.

The provincial bus company was shut down in the provincial budget as part of the government’s efforts to reduce the deficit.

There are numerous items up for bid, including 45 buses of various ages and makes.

Also for sale are trucks and other vehicles, trailers, vehicle parts and maintenance, IT and office equipment.

“Some of the pieces had independent appraisers research the assets, so we’ll be looking at what the bids come in and how they match up against what we think they’re worth,” STC’s Candace Caswell explained. “But really, we are looking at getting the best value for the pieces.”

Those interested have until Oct. 2 to submit their bids through sasktenders.ca. A committee will go through the bids, and then the successful buyer will be contacted by the end of that same month.

STC ceased operations at the end of May when the government ended the subsidies being given. Just two of STC’s routes were profitable. It was estimated the bus company would need $85 million over the next five years just to break even.

The STC terminals remain open until the contract with Greyhound ends in late September.

The process for the potential sale of the buildings will then begin.