Florelle Owner Says He Would Buy Newton Falls Mill, If He Could
Business is strong and if were better, the owner of Florelle Tissue in Brownville would try to buy another north country mill.
But Harry Minas says he has to work through his own problems first.
Minas was interviewed for 7 News This Morning. Click on the picture above for excerpts. Click below for the full interview.
Minas said he learned Chase Bank was foreclosing on his mill through the media, not from the bank.
Minas says he has still not received foreclosure paperwork.
He admits he was three months behind on payments, but he says business isn't that bad and he's committed to the project.
"The original package was for me to put a 10 percent down. I'm actually right now -- I've personally injected into this company over the past year, because we have had a difficult time -- close to 35 percent."
Despite the forclosure, Minas said Florelle is still very much in business.
"We're working, we're moving forward, our operations have not changed, we have not stopped production, we are continuing production, we actually worked the entire weekend to make deliveries that we have this morning," he said.
While Minas was not the mystery bidder who backed out of buying the Newton Falls paper mill at auction in March, he makes no secret of being interested in that mill.
Minas says if things were better for him at Brownville, he would try to buy shuttered Newton Falls mill.
"If I had my cash flow in place and a position where we positive and working great, not having these hurdles thrown in front of us, I would absolutely have gone for that mill," he said.
Minas says he hears that none of his colleagues or competitors are interested in the Newton Falls mill because it's too expensive to do business in New York, despite a great workforce.
Thursday, March 5, 2015, Watertown, NY
On Wall Street