Former Great Northern mill under new ownership — again
The former home of the Great Northern Paper mill in East Millinocket is under new ownership, as a Boca Raton, Fla., company specializing in demolishing out-of-date properties purchased the building for an undisclosed amount.
North American Recovery Management purchased the former mill from Hackman Capital Partners of Los Angeles on March 3, which had bought the Great Northern Mill’s assets for $5.4 million in December 2014. According to the Bangor Daily News, a Hackman official said that the company had hoped to find a buyer with an interest in restarting the mill — a search that ended unsuccessfully in March 2015.
East Millinocket Selectman Clint Linscott toured the property in February with an official from Hackman to monitor the town’s use of the mill’s secondary wastewater treatment plant, which the town purchased in June 2013 for $1.
“If you were to go in there and didn’t know papermaking, you would think that the place would start right up, but all the most valuable components are gone,” said Linscott, who worked at the mill for eight years. “The place will never restart as a paper mill.”
The East Millinocket mill, which produced newsprint and telephone directory-grade paper, shuttered in 2014 after operating for over 100 years.
Read more
Madison paper mill cutbacks has town looking for new funding
Looking to start your own paper mill? We've got a deal for you
Madison Mill production schedule in further flux
Expedited hearing sought for sale of Lincoln mill's IP rights
Most Recent
Most Recent
Comments