One of Maine’s greatest business success stories of 2012 was recently celebrated by business, political, and community leaders in “The Town That Paper Made.” In April 2011, hundreds of papermakers lost their jobs when Katahdin Paper Company’s East Millinocket mill closed, helping to push the region’s unemployment rate to nearly 22%. By September 2011, Cate Street Capital purchased the mill, along with its sister facility in Millinocket. Just one month later, Cate Street Capital reopened the East Millinocket mill under its most revered historical name – Great Northern Paper (GNP) – and 215 people were back to work. Fast forward to October 2012. GNP’s workforce stands at 257, and it continues to hire workers for its second paper machine.GNP officials and employees hosted a one-year anniversary celebration at the mill today. They were joined by state and local political figures, community and business leaders, retired and current employees, and their friends and families to commemorate the important milestone. Two restored, antique, brass plaques with the original names of each paper machine, “Katahdin” and “Penobscot,” were unveiled during the ceremony.
Friday, November 2, 2012
Great Northern Celebrates Successful First Year
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One of Maine’s greatest business success stories of 2012 was recently celebrated by business, political, and community leaders in “The Town That Paper Made.” In April 2011, hundreds of papermakers lost their jobs when Katahdin Paper Company’s East Millinocket mill closed, helping to push the region’s unemployment rate to nearly 22%. By September 2011, Cate Street Capital purchased the mill, along with its sister facility in Millinocket. Just one month later, Cate Street Capital reopened the East Millinocket mill under its most revered historical name – Great Northern Paper (GNP) – and 215 people were back to work. Fast forward to October 2012. GNP’s workforce stands at 257, and it continues to hire workers for its second paper machine.GNP officials and employees hosted a one-year anniversary celebration at the mill today. They were joined by state and local political figures, community and business leaders, retired and current employees, and their friends and families to commemorate the important milestone. Two restored, antique, brass plaques with the original names of each paper machine, “Katahdin” and “Penobscot,” were unveiled during the ceremony.
One of Maine’s greatest business success stories of 2012 was recently celebrated by business, political, and community leaders in “The Town That Paper Made.” In April 2011, hundreds of papermakers lost their jobs when Katahdin Paper Company’s East Millinocket mill closed, helping to push the region’s unemployment rate to nearly 22%. By September 2011, Cate Street Capital purchased the mill, along with its sister facility in Millinocket. Just one month later, Cate Street Capital reopened the East Millinocket mill under its most revered historical name – Great Northern Paper (GNP) – and 215 people were back to work. Fast forward to October 2012. GNP’s workforce stands at 257, and it continues to hire workers for its second paper machine.GNP officials and employees hosted a one-year anniversary celebration at the mill today. They were joined by state and local political figures, community and business leaders, retired and current employees, and their friends and families to commemorate the important milestone. Two restored, antique, brass plaques with the original names of each paper machine, “Katahdin” and “Penobscot,” were unveiled during the ceremony.
