Great Northern Paper

Courtesy of Husson University

More than 100 new jobs will be coming to Millinocket if plans for a new laminated wood products manufacturing company stay on track in the coming year.

BANGOR, Maine - Officials with the town of East Millinocket say they're relieved that a judge has granted a temporary restraining order that keeps buildings at the former Great Northern Paper Mill property from being demolished.

"We're keeping our fingers crossed," says Select Board Chair Mark Scally.

Scally says an investment group has been working to create a biofuels facility on that site, and any set-back, such as the loss of important infrastructure, would not have been good news for that project.

Maine Public file

The former holdings of the Great Northern Paper Co. in Millinocket have been sold to a local nonprofit for the princely sum of $1.

East Millinocket Officials Worried About Demolition at Former Mill Site

Jan 9, 2017
Nick Sambides Jr. / Bangor Daily News

EAST MILLINOCKET, Maine — Town leaders are concerned that the owner of the former Great Northern Paper Co. LLC site is demolishing assets that could help lure a potential investor.

EAST MILLINOCKET, Maine - The former site of the Great Northern Paper mill in East Millinocket is now in the hands of a company that specializes in the demolition of obsolete industrial properties.

North American Recovery Management of Boca Raton, Florida, bought the shuttered mill and associated real estate on March 3 for an undisclosed amount of money, according to the Penobscot Country Registry of Deeds.

The Florida company invests in industrial properties that require environmental remediation and demolition.

Maine taxpayers will be picking up the tab for some $16 million in payments to out-of-state investors over the next four years, after they took advantage of a state program aimed at creating jobs in economically depressed communities.

The complicated story of how those investors got hold of these payments from a deal involving the now-defunct Great Northern Paper mill in East Millinocket is laid out in a two-part story by Whit Richardson of the Portland Press Herald.

File photo

BANGOR, Maine - A major piece of Maine's paper-making story may have come to an official end this morning inside a Bangor courtroom.

File photo

BANGOR, Maine - California-based Hackman Capital Partners today submitted the winning bid of $5.4 million for the shut-down Great Northern Paper mill in East Millinocket at a public auction in Bangor.

The bid is scheduled to go before U.S. Bankruptcy Judge Louis Kornreich at 1 p.m. today.

EAST MILLINOCKET, Maine - The attorney for the trustee for a bankrupt Maine paper mill says a federal judge approved the sale process for the mill's equipment and buildings.

A company called GNP Acquisition is offering to buy the Great Northern Paper mill in East Millinocket for $2.6 million. The attorney says the company also has the option to buy the land for $350,000. Other parties can bid on the shuttered mill until Dec. 1. An auction is set for Dec. 2.

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 reports a 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.

https://www.flickr.com/photos/binkley27/

What's in store for Maine's Paper & Pulp industry?

Guests:  John Williams, President of the Maine Pulp and Paper Association

Dr. Michael Hillard, University of Southern Maine professor of economics.  He has specialized in research regarding Maine's paper industry.

Click here to watch a documentary called "Remembering Mother Warren," which chronicles the labor history of the S.D. Warren paper mill in Westbrook, one of the nation's oldest.

EAST MILLINOCKET, Maine (AP) _ A federal judge has ordered the Great Northern Paper Co. bankruptcy case to be moved from Delaware to Maine.

File photo

PORTLAND, Maine - Independent gubernatorial candidate Eliot Cutler lashed out today at the LePage administration for encouraging a tax credit scheme two years ago for the Great Northern Paper Company. With the company's recent bankruptcy filing, Cutler says Maine taxpayers are now on the hook for $16 million, and have no jobs in Millinocket to show for it.

 

PORTLAND, Maine - Independent Eliot Cutler is continuing to attack Gov. Paul LePage over a deal that aimed to save Great Northern Paper, saying taxpayers are on the hook for $15.9 million over seven years.

Cutler has been blasting the governor over the handling of the case even before Great Northern filed for Chapter 7 bankruptcy last week. He says the governor negotiated a bad deal with Cate Street Capital, which managed the mills.

LePage did not immediately return a phone call seeking comment on Tuesday.

EAST MILLINOCKET, Maine - Three Maine-based creditors want to move the Great Northern Paper Co. bankruptcy case from Delaware to Maine.

The creditors contend Maine's attorney general, the towns of East Millinocket and Millinocket and the employees' unions all support moving the federal bankruptcy proceedings to Maine. The creditors' petition seeks to stop a meeting of creditors that's scheduled for Oct. 15 in Delaware, where the holding company is based.

Pages