A shuttered Maine paper mill may reopen next year under new ownership.
ND Paper LLC, which also owns a paper mill in Rumford, said Wednesday it has an agreement to purchase the Old Town property from OTM Holdings LLC. ND Paper will pay an undisclosed amount and promises it will bring over 100 high-paying jobs to the area.
OTM Holdings bought the mill in January, also saying it would bring 100 jobs to the area as it aimed to attract tenants.
The University of Maine's forest bioproducts research institute has a research center in the mill's warehouse, which city officials say will remain on the property.
ND Paper says it expects the mill to restart in the first quarter of 2019.