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Bid Placed to Buy East Millinocket Paper Mill

EAST MILLINOCKET, Maine - The trustee for a bankrupt Maine paper mill is asking a federal judge to approve the sale of the mill's equipment and buildings.

The Portland Press Herald reportsa company called GNP Acquisition is offering to buy the Great Northern Paper mill in East Millinocket for $2.6 million. An attorney for the trustee says the company is not interested in purchasing the land, but would have the option to buy it for $350,000.

Federal bankruptcy Judge Louis Kornreich is scheduled to consider the motion to approve the sales agreement at a Friday hearing in Bangor. The president of Connecticut-based auction company Capital Recovery Group signed the asset purchase agreement on behalf of GNP Acquisition. Other parties still have the ability to bid on the shuttered mill.