Verso completes sale of Bucksport mill
Verso Paper has completed its $60 million sale of its shuttered Bucksport mill to the subsidiary of Canadian scrap metal company American Iron & Metal.
The Portland Press Herald reported that AIM Development LLC, which closed on its purchase of the mill Thursday, "is in discussions with an operator" that would restart the paper mill. However, the company declined to provide further comment.
The mill was shut down by Verso in December, laying off more than 500 employees. When the closure was announced in October, Verso CEO and President Dave Patterson said that the mill "has not been profitable for a number of years, in spite of our employees' dedicated efforts to make it so."
The closing of the sale follows a failed attempt by the International Association of Machinists to halt the sale through a federal court order. Gov. Paul LePage, also a proponent of keeping the mill open, recently derided Verso executives as "bottom feeders."
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