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Katahdin mills' potential new buyer plans to install natural gas lines and a renewable fuel project

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Katahdin mills' potential new buyer plans to install natural gas lines and a renewable fuel project

August 31, 2011 - 07:57
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AUGUSTA, ME, Aug. 31, 2011 (Bangor Daily News) -The installation of natural gas lines and "a separate renewable fuel project" involving wood are part of a New Hampshire-based investor's plans to buy and run the two Katahdin region paper mills, Gov. Paul LePage's office said Tuesday.

Cate Street Capital of Portsmouth, N.H., which describes itself as a national leader in developing green energy companies, signed an asset purchase agreement on Tuesday for the Millinocket and East Millinocket mills for an undisclosed price. The closure of the deal could come as early as mid-September, state officials said.

"This is a significant milestone in our efforts to not only restore papermaking in the Katahdin region, but to create job opportunities for Mainers," LePage said in a statement. "I want to commend the hard work and commitment of Brookfield [Asset Management, the mills' owner] and Cate Street. We look forward to continuing to work toward a closing."

Sun Journal - Potential buyer of Katahdin mills interested in energy projects

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