Judge Approves $10.5M Sale Of Maine Mill

A bankruptcy court judge has approved the $10.5 million sale a shuttered paper mill in Old Town, Maine, to a Wisconsin company that wants to reopen it. Expera Specialty Solutions of Kaukauna, Wisconsin, said it plans to reopen the Old Town...

Mnet 39386 0b16f9517c2b8a2e660f6a70670030a4

A bankruptcy court judge has approved the $10.5 million sale a shuttered paper mill in Old Town, Maine, to a Wisconsin company that wants to reopen it.

Expera Specialty Solutions of Kaukauna, Wisconsin, said it plans to reopen the Old Town Fuel & Fiber mill and bring back about 200 workers.

The mill furloughed about 200 workers when it suspended operations in August. Owners cited high operating costs and foreign competition.

The judge in Bangor, Maine, approved the transaction Friday. The judge's order said the deal was "in the best interests of the debtor's estate, its creditors, and other parties."

More in Supply Chain