Resolute's Sale Agreement Precludes Fort Frances Mill Restart

The sale restrictions on the mill properties indicate that there are few chances of the mill operating once again.

SEATTLE (Scrap Monster): The sale of the Fort Frances paper mill by Resolute Forest Products to Riversedge Developments has hurt the community, says Mayor June Caul. The sale restrictions on the mill properties indicate that there are few chances of the mill operating once again.

ALSO READ: Resolute Forest Products Declared Muted Results in Q2

Despite presenting a number of potential buyers who had shown interest in restarting the mill operations, Resolute in June this year had decided to sell the mill property to Riversedge for a sum of $1.

According to the Mayor, Resolute’s corporate conduct needs to be condemned and penalized. The restrictive covenants are a testimony of how little respect Resolute and Riversedge have for the government and the community. It includes restrictions on sale of property to entity that would manufacture pulp or paper products, restrictions that require sale of key mill assets for scrap and restrictions that prohibit new owner from gaining access to Corssroute Forest wood supply.

The Mayor, in a media conference, noted that the above conditions are totally unacceptable to the town.

• Florida Beverage Association Announces Application Period for 2025 Community Grant Program
• Allied Industrial Partners-Backed Waste Eliminator Acquires Enterprise Landfill and Phillips Recoveries
• FORNNAX Wins ‘Best Brand 2024’ Award in Recycling Industry By The Economic Times
• Denver, CO Moves Recycling Pickup to Accelerate Compost Rollout