The 130-year-old West Linn paper mill is getting an unexpected revival, with dramatic market changes prompting a famously contrarian investor to make a "multimillion-dollar" bet on its future.

The plant abruptly closed in 2017, throwing 250 millworkers onto the streets after its pulp supplies dried up. Today, though, pulp prices have fallen while the number of suppliers of the coated paper West Linn turns out have fallen dramatically.

So Clark County investor Ken Peterson, whose eclectic portfolio includes everything from pulp mills to augmented reality technology, said he saw an opportunity.

"I’m not saying it will be another 130 years and there will be ups and downs," Peterson said. "But at least for the foreseeable future this seems to be pretty bright."

Plans call to restart one paper machine with 85 employees by the end of summer, according to Peterson. He said he met with about 80 former employees and their families last week to discuss the prospect, and said the availability of workers familiar with the site was a key factor in deciding to restart.

"That changes the dynamic considerably and shortens the lead time because you have skilled people who are intimately acquainted with papermaking," Peterson said.

Formerly the West Linn Paper Co., the plant will now be the Willamette Falls Paper Co. It will be a subsidiary of Peterson’s firm, Columbia Ventures, and Brian Konen, who had been chief operating officer of West Linn Paper, will be president of the new company.

 

Source: Oregon Live