CSP Contender Gets Piece Of Financing

CSP Contender Gets Piece Of Financing

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Carthage Specialty Paperboard Caption Carthage Specialty Paperboard Caption

A leading contender to buy and take over the Carthage Specialty Paperboard company got a piece of its financing Thursday.

Human Capital Investments wants to buy the West Carthage plant, keep the 70 or so jobs, including the union jobs, invest $15 million in upgrades and possibly expand the business by opening up the former James River plant in Carthage. 

The Jefferson County Industrial Development Agency board approved a $300,000 loan to the new company which will be called Long Falls Paperboard. 

Ultimately a bankruptcy judge will decide who will buy Carthage Specialty Paperboard. CSP declared bankruptcy in February.

Speaking of the old James River mill, while Long Falls Paperboard may be eying the property, there's another company looking at it too, along with the next door co-generation plant. 

Don Alexander, with the JCIDA, confirms this company's interest, but wouldn't identify this other company or what it would do with the property.

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