Thursday, April 12, 2012

Manistique Paper Sold

http://www.pioneertribune.com/news/2012-04-12/Front_Page/Seven_months_after_filing_bankruptcy_paper_mill_re.html
Manistique Papers Inc. had reached an agreement with The Watermill Group to sell the 91-year-old paper mill. According to MPI General Manager Jon Johnson, the agreement was signed Wednesday afternoon and was transmitted electronically to the U.S. Bankruptcy Court in Wilmington, Del., for approval.
Approval of the Watermill bid is anticipated to be April 17, with the close of the transaction to take place early May. Terms of the deal are undisclosed pending bankruptcy approval. In November 2009, Watermill purchased the FutureMark Paper Company in Alsip, Ill.