OLD TOWN (NEWS CENTER Maine) — An investor confirms to NEWS CENTER Maine that the Old Town mill was sold to OTM Holdings LLC, a group of Maine companies who have agreed to pool their resources to get the facility back up and running.
The sale was completed earlier this week.
The investors say they will spend the next few weeks getting a team together to manage the facility. They hope to attract four or five new tenants and expect them to be working with the University of Maine to attract consumers of low grade fiber.
The companies involved have not yet been disclosed.
The mill filed for bankruptcy in 2014 and closed in 2015.
Its ownership has changed hands several times in the past few years.
