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NewPage selling Rumford energy facility
Rumford Paper Co., a subsidiary of paper manufacturer NewPage Corp., is selling its cogeneration energy assets for $61 million.
The cogeneration facility will be owned by a subsidiary of Latham, N.Y.-based ReEnergy Holdings LLC, a company that specializes in renewable energy from integrated biomass waste fuel, according to a press release from Ohio-based NewPage. ReEnergy will operate the cogeneration facility to provide electricity and thermal energy to the Rumford paper mill, while the mill's pulp and papermaking process will supply ReEnergy with biomass fuel. "The transaction represents an opportunity for the Rumford mill to realize value from its green energy assets and to focus on its core business of making high-quality paper," NewPage president and CEO George Martin said in the release. Formed in 2008, ReEnergy Holdings owns a tire-to-energy facility in Connecticut and two waste-wood processing facilities that serve New England and the Boston metro area.
The deal is expected to close by the middle of this year.
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The Giving Guide
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
-
Work for ME
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
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Senior Smart
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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