Potential Savior Backs Out of Closed Mill Acquisition
BRAINERD, MN—Environmental concerns have caused a potential buyer for the now-shuttered Wausau Paper mill here to withdraw, The Associated Press reported.
Mike Fiterman, chairman and CEO of Liberty Diversified International (LDI), informed the city of Brainerd that the company was no longer interested in obtaining the mill, which ceased paper production last April. The closure resulted in the loss of about 130 jobs.
While a city councilman said that LDI had "consistently" shown interest in buying the plant, Fiterman said the company concluded that there were too many obstacles toward making the mill productive and profitable, in addition to the environmental risks.