Resolute Sells Fort Frances Pulp Mill to Developer
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Resolute Forest Products has sold its pulp and paper mill in Fort Frances, Ontario, according to town representatives.
In a statement posted on its Facebook page, the Town of Fort Frances confirmed the sale to a subsidiary of Riversedge Developments, held in partnership with a local entity.
According to its website, Riversedge Developments bills itself as a "restorative development company specializing in the integrated revitalization of industrial properties."
The mill has been idle since 2014 and the Town of Fort Frances was at odds with Resolute earlier this year about whether or not the mill would be restarted.
"The Town’s goal has been – and continues to be – returning this key economic asset to productive use that preserves its operating capacity and makes use of our region’s publicly-owned forest resources," say town representatives in the statement.
"The mill properties have been not only an economic driver for the Fort Frances area, but a recipient of significant public investment over the years. We look forward to the buyer confirming its intentions for the mill properties and their return to economic productivity for Fort Frances and the surrounding area."
In February 2019, Resolute sent a letter to Fort Frances mayor June Caul, saying it intends to sell the mill to an undisclosed "community redeveloper" that would tear the mill down.
Caul and the town of Fort Frances said the letter was contrary to information they received in December 2018 that Resolute would sell the mill and its assets to Repap Resources, a private investment company that would reopen the mill and create new jobs. Resolute accepted bids on the mill until March 15, 2019, and ultimately rejected the one submitted by Repap.
Caul told the CBC on July 16, 2019 that the town is in talks with Riversedge Developments and that there are still interested buyers should Riversedge choose not to tear down the mill site.
Source: Pulp and Paper Canada
