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March 18, 2011

TAA funds cleared for paper workers

By The Mainebiz News Staff

Workers at the Katahdin Paper Co. mill in East Millinocket have been certified as eligible for benefits through the federal Trade Adjustment Assistance program if the mill closes in April.

About 450 people work at the mill, which owner Brookfield Asset Management plans to close April 22 if a deal to sell it does not come through. A 2009 change to the TAA program allows petitions to be submitted on behalf of workers when layoffs are expected, according to a press release from U.S. Rep. Mike Michaud. The program provides job training and other services to workers laid off as a result of foreign competition.

California investment firm Meriturn Partners is currently negotiating with Brookfield and town officials in Millinocket and East Millinocket to buy the two Katahdin Paper mills, with a deadline of April 29. Meriturn has reached a tentative agreement with unions at the East Millinocket property, and is still working with town officials to reach an agreement on property taxes. The Millinocket facility has been shuttered since 2008.

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