Old Town: G-P outlines sale framework

Georgia-Pacific Corp. mill officials have sent documents outlining the provisions for selling the Old Town facility to potential buyers. They will begin working with interested parties as responses are received. Nine potential buyers were sent asset-purchase agreements that outline the framework under which someone would buy the facility, according to Gov. John Baldacci’s spokeswoman Crystal Canney on Friday. “All, some or none may respond,” she said. G-P announced last month it was closing the Old Town facility, but agreed to work with the state for 60 days to allow time to find a new buyer. In addition, workers will continue to be paid for 60 days from the time they were let go. When the mill shut down, more than 400 people were left without jobs. In addition to closing the mill, G-P closed its four chip mills in Milo, Costigan, Houlton and Portage. With the purchase-asset agreements now in the hands of potential buyers, negotiations officially have begun. The state’s deadline for finding a buyer ends May 15, but state officials say they remain optimistic that a buyer will be found.