Fraser Mill set to close for approximately $2.7 million
December 01, 2010
BERLIN — Bankruptcy courts in Toronto and Delaware have approved a deal of nearly $2.7 million to sell the old Fraser Paper Mill to M&M contracting and consulting. The deal is slated to close on Nov.30. It has been reported that M&M plans to reopen the plant, however their company has not returned calls for comment.
A second prospective buyer has emerged in case the deal falls through. That company is Counsel R.B. Capital LLC, based out of Toronto.
Eddy DeBlois, the union spokesman for the Mill, said that he doesn't want to get too far ahead of what's going on, but added, "hopefully they're successful in the purchase of the Mill." Once the closing is done, Mr. DeBlois said, "there's a lot of things that need to be done before we can say we're bringing people back," such as getting insurance, figuring out payroll, buying supplies, and other things that go into restarting operations.