GO Lab closes deal for Madison paper mill
Photo / Maureen Milliken
GO Lab Inc. has completed its purchase of the former Madison Paper Industries mill that's been shuttered since 2016.
GO Lab Inc., the Belfast building products manufacturer that in April announced its intent to buy a defunct paper mill in Madison, has completed the purchase.
In a news release Tuesday, the company said it has closed on the 600,000-square-foot Madison Paper Industries mill, shuttered since 2016. The property was originally listed for sale at $2.5 million.
GO Lab said it will manufacture three wood-fiber insulation products at the facility, under the name Timber Pure Technologies. GO has been working for months with engineering and construction partners on plans to retrofit the mill, install a line of manufacturing equipment, and begin production at the facility in the second half of next year.
“With closing on the mill and having a concrete location, people can see that this project is actually happening,” said Josh Henry, GO Lab’s president. “It allows us to focus, specifically, on how the equipment we purchased from Germany will operate in that space. It’s a major step forward.”
Once fully operational, a local workforce of over 100 employees will process more than 200,000 tons of softwood chips annually in Madison, according to the release.
Wood-fiber insulation is more environmentally friendly, better performing and potentially less expensive than other insulation products, GO Labs claims, and says it will be the first company to produce and sell it in the U.S.
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Congratulations to the GO Lab team! Persistence pays off!
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