Shuttered Maine paper mill owner sues hopeful buyer, says it has other suitors

The owner of the shuttered Great Northern Paper mill in East Millinocket claims a lawsuit from one prospective buyer has prevented it from considering others willing to pay millions.

The companies signed a letter of intent in June 2016 to put the deal in motion, but negotiations stalled and EMEP sued in January to try and force the $1.75 million sale.

Source: BDN Maine

As paper mills die, here’s how Maine’s loggers hope to survive

But industry experts also see opportunity in that 3.8 million ton drop in annual wood demand.“We’ve had a rough couple of years in the industry,” said Eric Kingsley, a consultant with Innovative Natural Resource Solutions in Portland. “We’ve lost mills, we’ve lost jobs. There will be more losses coming. But I am, long term, optimistic.”As traditional paper businesses are shifting to growing markets in food packaging and tissue — and as the pellet industry tries to grow its share of the U.S. heating market — others are eyeing new industries to breathe life into the economic engine in Maine’s woods.

Source:  BDN Maine