HERMON: ORAL AGREEMENT REACHED ON G-P SALE

The state has reached an oral agreement concerning the redevelopment of the Georgia-Pacific Corp. mill in Old Town and how it will move forward, Gov. John Baldacci said Wednesday. Baldacci declined to release specifics of the agreement or the potential buyer, believed to be Montreal-based Cascades Inc., which produces specialty packaging and paper products, mostly from recycled fibers. The governor announced the agreement while he was addressing the media at an event in Hermon. When G-P announced more than four months ago it was closing the Old Town facility and associated chip mills, more than 450 people were put out of work. The company agreed to work with the state to find a buyer, but a deal has not yet been completed. State officials said Wednesday they expect to have an announcement sometime in the next couple of weeks.