The sale of the Newton Falls paper mill as an intact
operation has failed and the assets will be liquidated in the latest turn of
events surrounding the plant.
Scotia Investments Vice President Robert G. Patzelt wrote in
an email that the special bid received at the end of an auction Thursday for
the entirety of the mill's equipment was terminated during finalization of the
details."The owners are disappointed with this development as they put tremendous time and effort into selling the entire mill which was seen to be in the best interest of all the stakeholders and especially the mill and the community," Mr. Patzelt wrote. "Ideally, we wanted the mill to be sold as a going concern, or, in its current state of being ready to be reopened by another party."
