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April 22, 2016

Lincoln mill owners squabble over financing claim from former employee

John McMahon, the former sales director of Lincoln Paper and Tissue and a representative of a group of former mill workers hoping to restart the Lincoln mill, is calling foul on the decision by the owners of the shuttered mill to reject his offer on Monday to purchase the mill’s tissue machines.

But one of the owners of the mill refuted McMahon’s claim, telling the Bangor Daily News that although the former sales director was passionate about his proposal to purchase the assets needed to restart production at the mill, he never placed a bid on the machines, or proved that had the means to follow through on the purchase.

McMahon refutes this claim, telling the BDN that he had presented an “official written offer of $2.25 million” in addition to the millions in needed funds for repairs, the acquisition of raw materials and the balance to fund working capital.

Robert Maroney, president of Gordon Brothers Commercial and Industrial, a division of Gordon Brothers Group, the leader of the partnership that bought the Lincoln mill, told the BDN that the group did get in contact with McMahon’s financial backer on the morning of the auction, but that the unidentified individual wasn’t prepared to finance the purchase.

Read more

Lincoln Mill intellectual property sold to liquidators

As auction begins, Lincoln Mill workers look towards possible restart

Lincoln mill equipment sold at auction headed out of the country

Restart efforts for Lincoln mill come to a close

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