AUGUSTA — An international holding company is in negotiations to buy the shuttered Maine paper mills in Millinocket and East Millinocket for $1.
Dan Whyte, vice president of Brookfield Asset Management, the current owner of the two Katahdin region mills, told the Bangor Daily News a company called International Grand Investors Corp. is interested in the mills. IGIC represents international investors in pulp trade and imports.
In September, IGIC purchased the former Domtar pulp mill in Baileyville for $64 million.
A key sticking point in the sale of the Katahdin region mills is ownership of the Dolby landfill in East Millinocket. The Legislature is considering a bill to buy the landfill.
The closure of the two Katahdin mills cost about 600 jobs.
Another deal to sell the mills failed.
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