Sale of Paper Mill Due in Court - NECN


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Sale of Paper Mill Due in Court

Bankruptcy court ready to consider sale of closed Old Town, Maine, paper mill to Wisconsin company



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    A bankruptcy court is ready to consider the sale of a closed Old Town, Maine, paper mill to a Wisconsin company that wants to reopen it.

    Expera Specialty Solutions of Kaukauna, Wisconsin wants to buy the Old Town Fuel & Fiber mill for $10.5 million. A judge could finalize the sale at a Bangor court hearing on Friday.

    The mill's August suspension of operations furloughed about 200 employees. Owners cited high operating costs and pressure from foreign competition at the time.

    Expera spokeswoman Addie Teeters says the company looks forward to reopening the mill. She says the reopening would put the 200 employees back to work. Teeters says Expera is hopeful the sale is finalized on Friday.

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