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Old 04-15-2011, 06:43 AM
 
1,594 posts, read 4,096,836 times
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Looks like the mills will be scrapped if an owner doesn't step up soon. More at the link.

Brookfield: State should buy Katahdin paper mills — Maine Business — Bangor Daily News

Quote:
EAST MILLINOCKET, Maine — The owner of two shuttered paper mills in Maine said Thursday that the state could purchase them for $1, and East Millinocket’s leader wants the mills’ towns to buy them, but the plants likely will be scrapped if a buyer doesn’t step up soon.

Dan Whyte, vice president of Brookfield Asset Management, said the company is advancing plans to dismantle the mills while “cognizant that the state could still step in and buy these assets.”
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Old 04-16-2011, 11:38 AM
 
Location: On a Slow-Sinking Granite Rock Up North
3,638 posts, read 6,168,748 times
Reputation: 2677
Quote:
Originally Posted by Coaster View Post
Looks like the mills will be scrapped if an owner doesn't step up soon. More at the link.

Brookfield: State should buy Katahdin paper mills — Maine Business — Bangor Daily News
“The problem with the two mills is one mill needs steam, and the other mill, their two paper machines are producing products that are going downhill, primarily newsprint. … But we’ve got to get the products in there that are not mature and shrinking.”

I don't think toilet paper, paper towels, or paper plate products are going anywhere soon unless IPhone comes out with an app for those uses too (which wouldn't surprise me)
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Old 04-18-2011, 07:35 AM
 
Location: Teton Valley Idaho
7,395 posts, read 13,101,169 times
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Quote:
Originally Posted by reloop View Post
....I don't think toilet paper, paper towels, or paper plate products are going anywhere soon unless IPhone comes out with an app for those uses too (which wouldn't surprise me)

LMAO! but coffee everywhere.... couldn't you have posted some sort of warning that you were going to make a funny?!
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Old 04-18-2011, 07:43 AM
 
Location: On a Slow-Sinking Granite Rock Up North
3,638 posts, read 6,168,748 times
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Quote:
Originally Posted by mollysmiles View Post
LMAO! but coffee everywhere.... couldn't you have posted some sort of warning that you were going to make a funny?!
Sorry...my bad.

Truthfully, I'm sick of being sad about it, and I really wish the US would go back to manufacturing its own needs once again.

Realistically speaking though, it's probably not going to be unfortunately.
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Old 08-30-2011, 10:19 AM
 
Location: Northern Maine
10,428 posts, read 18,684,164 times
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As of noon today the mills have been purchased by a New Hampshire company who intends to run the mills.

"Maine is open for business". It says so on the sign just after you come across the bridge.
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Old 08-30-2011, 01:38 PM
 
325 posts, read 706,081 times
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Uh, Didn't LePage announce today that it has been sold?
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Old 08-30-2011, 01:54 PM
 
Location: On a Slow-Sinking Granite Rock Up North
3,638 posts, read 6,168,748 times
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So I wonder if the 'NH business' is affiliated with Lynn Tilton?
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Old 08-30-2011, 02:47 PM
 
Location: Maine
6,631 posts, read 13,542,872 times
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Quote:
Originally Posted by Northern Maine Land Man View Post
As of noon today the mills have been purchased by a New Hampshire company who intends to run the mills.

"Maine is open for business". It says so on the sign just after you come across the bridge.
No, it hasn't been purchased yet. There's a purchase agreement but there has not been a sale.

My husband works for a mill. An investment company (the potential buyer for Katahdin mills is a green energy investor) bought it 11 months ago. It's been a good thing. They've done things other owners couldn't do. When you drive by Woodland Pulp now the smoke from the stacks is much cleaner. The new owners have invested in cleaner energy and are still working on whatever's to come next. I hope the Katahdin mills do as well with this investor.
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Old 08-30-2011, 03:23 PM
 
Location: Northern Maine
10,428 posts, read 18,684,164 times
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The Katahdin Mills are not being purchased by International Grand Investors Corp. It is a New Hampshire private company called Cate Street Capital. These are the same folks who are revitalizing the old mill in Berlin, NH. From a blog in Berlin, NH:

"Finally, to John Halle, Alex Ritchie, and Chuck Grecco, from the bottom of
my heart, thank you for never giving up on Berlin. Together, Cate Street Capital
and Lynn Tilton have generated an excitement and opportunities for success that
the Androscoggin Valley hasn't witnessed in generations. We will be on your side,
shoulder to shoulder, for your success is also our success."
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Old 08-30-2011, 04:30 PM
 
Location: Maine
6,631 posts, read 13,542,872 times
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Quote:
Originally Posted by Northern Maine Land Man View Post
The Katahdin Mills are not being purchased by International Grand Investors Corp. It is a New Hampshire private company called Cate Street Capital. These are the same folks who are revitalizing the old mill in Berlin, NH. From a blog in Berlin, NH:
IGIC is the company DH works for. They passed on the Katahdin mills because of the difficulty sourcing wood.
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