According to a press release from Domtar Corporation, a development company has purchased the Port Edwards mill. The sale to DMI Acquisitions, LLC, the real estate investment and development arm of DMI Metals, Inc. was finalized Wednesday.
A spokesperson from DMI says they are working with the village of Port Edwards to figure out what's best for the mill. The company will not be relocating from it's Ohio-based headquarter, but instead will seek tenants for the Port Edwards mill.
The purchase includes all the remaining assets on the site, but does not include the adjacent hydroelectric facilities on the Wisconsin River. Domtar will continue to own and operate to provide power to its Nekoosa mill.
“Domtar has been working diligently with the Wisconsin Department of Natural Resources (DNR) and other parties for several years to prepare the site and find the right purchaser for the Port Edwards assets,” said Mark Bessette, General Manager of Domtar’s nearby Nekoosa Mill. “We are pleased that DMI will bring new economic activity to the site, for the benefit of the community.”
“DMI believes that the 192-acre Port Edwards mill site, with its extensive rail facilities, is uniquely positioned for new warehouse and light manufacturing opportunities, particularly in the energy, agricultural and wood products markets,” said DaMenga Weaver, President, DMI Acquisitions, LLC.
Domtar closed the Port Edwards mill in 2008 leaving 500 without jobs.
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