Wednesday, February 23, 2011
Maine Paper Mill and Hundreds of Jobs at Stake in Sale Deal
The owner of Katahdin Paper in East Millinocket says it will permanently close the mill in 60 days if a sale to Meriturn Partners does not close by the end of April. Last week Meriturn announced it had signed a letter of intent to buy the East Millinocket facility, as well as Katahdin Paper's already shuttered mill in the neighboring town of Millinocket. Hundreds of jobs are at stake in a deal that grows more complicated by the day.
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