It's official—the mill has been sold.
In a statement late yesterday from the Town of Fort Frances, the town confirmed for all of its citizens, stakeholders, and regional partners that the properties comprising the pulp and paper mill in Fort Frances have been sold by Resolute Forest Products.
“These properties have been transferred to a new owner, which we understand to be a subsidiary of Riversedge Developments that is held in partnership with a local entity,” it noted.
“Since news of a potential new operator for the mill first surfaced in December, a working group consisting of the mayor and members of council and town administration has been engaged to monitor this file and liaise with Resolute, the province, and prospective buyers—including Riversedge.”
The statement reiterates town's goal has been—and continues to be—returning this key economic asset to productive use that preserves its operating capacity and makes use of our region's publicly-owned forest resources.
“The mill properties have been not only an economic driver for the Fort Frances area, but a recipient of significant public investment over the years,” it read.
“We look forward to the buyer confirming its intentions for the mill properties and their return to economic productivity for Fort Frances and the surrounding area,” it continued.
“Mayor June Caul and council wish to thank the community for its patience during this transition period.”
The town also wishes to thank Minister Greg Rickford for his ongoing support of Fort Frances and the surrounding communities' best economic interests.