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April 20, 2016

Lincoln mill equipment sold at auction headed out of the country

A group of former Lincoln Paper and Tissue LLC employees have hit a roadblock in their plan to resume production at the shuttered mill, with two papermaking machines and one tissue-making machine and its components being sold to a company that refurbishes and sells industrial equipment.

The Bangor Daily News reports that Hainesport, N.J.-based Perry Videx purchased paper machines No. 4 and No. 5 and additional items on the auction block for $80,000. The industrial refurbishment company also placed successful bids on tissue machine No. 7 and its related components for $450,000.

The BDN reported that the chairman of Perry Videx said the machinery will be headed out of the country.

An unknown online bidder purchased a second tissue machine, No. 6, for $270,000.

The former sales director for Lincoln Paper and Tissue, John McMahon, who was among the leaders of former employees looking to purchase the equipment, said that he had placed a bid on Monday for the tissue machines, but it was rejected by the mill’s liquidators, Gordon Brothers.

Tuesday marked the first day of the auction for the shuttered mill’s equipment, which will continue at the Hilton Garden Inn in Bangor until Thursday, with an online auction scheduled until Tuesday, April 26.

Read more

Lincoln Mill intellectual property sold to liquidators

Lincoln and Old Town paper mills heading to auction

As auction begins, Lincoln Mill workers look towards possible restart

Lincoln mill owners squabble over financing claim from former employee

Restart efforts for Lincoln mill come to a close

Shuttered Lincoln mill to seek $1.1 million from vendors

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