Buyers hope to redevelop property of closed Maine mill

MADISON, Maine (AP) — The buyers of a recently shuttered Maine mill say they hope to redevelop part of the property. Madison Paper Industries closed in May. The mill had been producing paper since 1978. A joint venture of New Mill Capital Holdings, Perry Videx and Infinity Asset Solutions...

MADISON, Maine (AP) — The buyers of a recently shuttered Maine mill say they hope to redevelop part of the property.

Madison Paper Industries closed in May. The mill had been producing paper since 1978. A joint venture of New Mill Capital Holdings, Perry Videx and Infinity Asset Solutions purchased the Madison Paper Industries mill from owners UPM-Kymme Inc. and Northern SC Paper Corp. The sale was announced Friday.

Gregory Schain, of New Mill Capital Holdings, tells The Morning Sentinel (http://bit.ly/2iIvvAd ) his company and their partners will look at the equipment that they're allowed to keep at the site that can possibly be used for other papermaking or other uses.

Schain says the mill has two areas, and the newer section is a "good" industrial space that they hope is marketable.

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Information from: Morning Sentinel, http://www.onlinesentinel.com/

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