Klausner Lumber One Sawmill to Soon Have New Owner

SEATTLE (Scrap Monster): The former Klausner Lumber One Sawmill, which had filed for bankruptcy by end-April this year, is most likely to have new owner within 90 days, said Jimmy Norris, Suwannee County Economic Development Director.

Addressing the meeting of the Board of County Commissioners Tuesday morning, Norris rejected fears that the sawmill will find it difficult to locate a new owner. Further, he expressed the hope that the mill will be sold to a new party through auction no later than mid-August this year.

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Len Stapleton, Board Chairman said that almost 10-12 companies have already reached out, expressing interest to purchase the idled facility. They are currently in talks with Michael Freeman of Asgaard Capital, who is in charge of the reorganization. The companies include those from the U.S., Canada and other countries. The top executives representing the above companies will be soon visiting Suwannee County to have a look at the sawmill’s assets, he added.

Some of the interested companies have promised to bring the mill back up and running within six to eight weeks from the closure of the deal. A few have even proposed to make significant investment towards expansion of the facility.

Meantime, the bids are expected to range between $100 million and $200 million, sources indicated.