Great Northern Paper Co - Millinocket, Me

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SUMMARY

The Great Northern Paper Company in Millinocket, Maine, faced severe challenges due to a weak paper market and skyrocketing oil prices, leading to the closure of its mills and the loss of 1,100 jobs. Brascan, which acquired the mills in 2003, operated them at significantly reduced capacity, with only 208 workers at the Millinocket mill and 350 at the East Millinocket mill. The East Millinocket mill is expected to undergo curtailment, while the Millinocket mill is set to shut down entirely. However, recent developments indicate a potential revival, as a new company based in Portsmouth, NH, has purchased the East Millinocket plant, sparking optimism for the local economy.

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Local economists, industry analysts, policymakers, and residents of Millinocket and East Millinocket seeking to understand the economic landscape and future opportunities in the paper manufacturing sector.

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turbo said:
June 6, 2008
The little towns of Millinocket and East Millinocket Maine are getting nailed again. A weak paper market forced the closure of their paper mills years back and the loss of 1100 jobs. Brascan bought the two mills in 2003 and have been running at far less than capacity with 208 workers at the Millinocket mill and 350 workers at the sister mill. The mills are 100% dependent on oil to produce steam with which to make paper and the price of oil has more than doubled in the past year. The East Millinocket mill will have to undergo curtailment (probably in both production and work force) and the Millinocket mill will be shut down completely. The #11 paper machine at that mill is fully booked, and should be running 24/7 but the company cannot afford the huge losses due the price of oil, so it appears the mill will be shut down entirely.

So I see Millinocket (Great Northern Paper) mill made national headlines recently, with the reopening of the East Millinocket plant. It was purchased by an outfit based in Portsmouth, NH. Perhaps a indicator of better days ahead. :smile:
 
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Excerpt above reference:
"Clouds that shrouded mighty Mount Katahdin on a still November morning gradually lifted above its mile-high summit as the day wore on, just as a pale of gloom is giving way to a glow of optimism in two Maine towns below.

Paper-making, for generations the lifeblood and soul of Millinocket and East Millinocket, is back, and a closely related new industry knocks on the door. And mill workers and those who draw a living from one of Maine’s traditional industries say they finally have something to be thankful for this Thanksgiving."

For those who are geographically curious: Millinocket is in central Maine, 24mi SE of Katahdin and about the same latitude as Moncton, New Brunswick.
 
I hope it works out for them. The price of oil has kicked everyone in the gut. The cost of paper has been rising for years.
 

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