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AUGUSTA – The sale of bankrupt Great Northern Paper Inc. to Toronto-based Brascan Corp. is slated to close Tuesday, setting the stage for hundreds of mill workers to return to their jobs. Gov. John Baldacci and company officials planned to meet with reporters in Portland…
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AUGUSTA – The sale of bankrupt Great Northern Paper Inc. to Toronto-based Brascan Corp. is slated to close Tuesday, setting the stage for hundreds of mill workers to return to their jobs.
Gov. John Baldacci and company officials planned to meet with reporters in Portland after attorneys complete the sale.
The official closing of the $103 million deal will take place at the law offices of Pierce Atwood.
The Great Northern mills in Millinocket and East Millinocket have been idle since December, putting more than 1,100 people out of work.
Brascan said it plans to restart the East Millinocket mill by mid-May and that the two mills eventually will have a combined work force of 500 to 550.
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