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DAILY NEWS Feb 10, 2014 7:16 AM - 0 comments

Sale of site of Tembec pulp mill in Marathon, ON, delayed

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2014-02-10

The sale of the site of Tembec Inc.’s idled joint venture pulp mill in Marathon, ON, has been delayed because potential buyer Illinois-based Green Investment Group Inc. (GIGI) missed the final deadline of Jan. 22, Northern Ontario Business reported Jan. 31.

For the sale to proceed, Tembec and GIGI would have to bring a new sale agreement to Ontario’s Ministry of Environment (MOE) that meets its requirements.

Marathon Pulp Inc., which produced northern bleached softwood kraft (NBSK) pulp, went bankrupt and was shuttered in 2009.

Lisa Brygidyr, spokesperson for the MOE, said GIGI was to have committed to fulfilling required environmental requirements to clean up the property for the long term, but was not able to do so.

Brygidyr said the ministry had granted repeated extensions to the parties involved.

She said GIGI had not posted the C$2 million it had agreed to set aside for the cleanup, while Tembec has posted its agreed-to amount of C$4.8 million.



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