Mystery Surrounds Newton Falls Mill And Its Future
It seemed like such good news.
See our earlier report:
Despite fears, there may still be hope for the idled Newton Falls Fine Paper Mill to resume production.
That's because the mill property and its equipment has been purchased at auction by a mystery buyer.
The mill's inventory was being sold at an auction in Syracuse Thursday. Economic development officials feared the lack of equipment would kill any chances the mill would reopen.
7 News has learned the mill's current owner, Scotia Investments of Nova Scotia, has accepted a single bid for all the equipment from "an international group."
That bid was 10 percent higher than the total bids made during the auction for separate lots of the mill's contents.
Mark Fleckenstein, a group analyst for Continental Plants -- the company that handled the auction -- says "the buyer came in at the end of the day with the overall bid and the plan is to restart the mill."
Fleckenstein would not identify the buyer.
In a related development, the St. Lawrence County Industrial Development Agency is meeting in a special closed-door session at noon Friday to discuss the situation.
Close to 100 workers lost their jobs when the mill stopped operating in 2010.
Friday, September 19, 2014, Watertown, NY
On Wall Street