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Statement on Katahdin Region Mill Deal
April 9, 2011
Governor Paul LePage expressed disappointment today on learning the news that Meriturn Partners was terminating efforts to acquire the Katahdin Paper mills in Millinocket and East Millinocket. The governor had been directly involved in the negotiations as recently as Wednesday, seeking a 30-day extension for deliberations from Brookfield President Richard Legault.
During the past three months, the state, legislators, congressional delegation, the communities, potential buyer and the workers have been working on a solution that would keep the East Millinocket Mill operating and restart the Millinocket Mill. From the onset, addressing the complex conditions set forth in the term sheet was a significant undertaking in the allotted time.
“I am disappointed by the news that Meriturn Partners is no longer considering the acquisition of the Katahdin Paper Mills,” said Maine Governor Paul LePage. “This is tough news for a region with a proud history in the paper business, but we will continue to work toward economic sustainability within the region.”