A New Hampshire company has signed an agreement to buy the shuttered Millinocket and East Millinocket mills, Gov. Paul LePage announced today.

Cate Street Capital, a Portsmouth company that invests in green energy projects, will work over the next few weeks to resolve any outstanding issues in the deal, company officials said in a statement.

“There are several parties to this agreement, and numerous conditions which must be met before the deal can be closed,” said Richard Cyr, the company’s senior vice president.

The agreement would not be possible without LePage’s efforts to help find a successor operator for the mills and broker the transaction, said Richard Legault, senior managing partner of Brookfield Asset Management.

In recent months, George Gervais, commissioner of the Maine Department of Economic and Community Development, and senior staff from the Governor’s Office met with several potential buyers before finalizing the signed purchase agreement with Cate Street Capitol this morning.

While the agreement is great news for the region, there is more work to do before the transaction is complete, Gervais said in a statement.

The Millinocket mill closed in September 2008. The East Millinocket mill closed on April 1. The closure of the two mills cost about 600 jobs.


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