International Paper Gives Update on Sale of Shuttered Paper Mill

SEATTLE (Scrap Monster): Leaders from Georgetown County and the city of Georgetown received an update Monday on the planned sale of the International Paper mill property.

While no final decision has been made yet, International Paper leaders said they have received “multiple bids from unique and diverse groups” and said they are pleased with the level of interest in the company, Georgetown County spokesperson Jackie Broach said.

The company is managing the sale process internally rather than using a commercial broker.

The next step, company officials said, will be to evaluate each bidder’s ability to successfully complete a large-scale project, financial strength, and the long-term viability of the future use of the site.

Once a top proposal is selected, the prospective contract purchaser will enter a due diligence period.

International Paper told the county that they expect the process will take several months to a year to complete, Broach said.

The company also reinforced its commitment to both the city and county to provide continued access to water from the IP Canal, Broach said. The company has provided details with all prospective buyers on the long-term commitment and the need for water access to continue.

The mill closed in late 2024, leaving nearly 700 without a job.

Courtesy: www.live5news.com