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Rubber and Wood July 17, 2019 08:30:03 AM

Town of Fort Frances Confirms Sale of Idled Resolute Pulp and Paper Mill

Paul Ploumis
ScrapMonster Author
The mill is a key economic asset, closely linked with the future of its community, Judson added.

Town of Fort Frances Confirms Sale of Idled Resolute Pulp and Paper Mill

SEATTLE (Scrap Monster): The statement issued Monday by the Town of Fort Frances confirmed the sale of property comprising the idled pulp and paper mill owned by Resolute Forest Products (RFP).

According to the statement posted on Facebook, the ownership of these properties has been transferred to a new company, which is believed to be a subsidiary of Riversedge Developments. Mayor June Caul stated that the town is not sure about the future plans of the new owner, but expressed the hope that it will be able to work with the Riversedge the future prospects of the mill.

Further, she recommended that the entities who are still interested in restarting the mill should hold talks with Riversedge to arrive at a deal. She hinted at high possibilities for the mill to be sold by Riversedge Developments to another company which may find it attractive to restart the mill.

ALSO READ: Resolute's Fort Frances Paper Mill Set to Restart in 2019

Councillor Douglas Judson welcomed the new ownership of the facility. He noted that the issue of the mill has been a top priority. Although the sale announcement is an important milestone, there are still details to be learned, he said. The mill is a key economic asset, closely linked with the future of its community, Judson added.

Earlier in March this year, RFP had turned down the purchase bid from the private investment group Repap Resources, stating that the bid by Repap fell short on multiple fronts.

The Fort Frances mill was idled in 2014, following a series of operational changes and employee-layoffs.

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