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Missota buys Brainerd mill for $4.44M

Missota Paper Company bought the Brainerd paper mill, formerly owned by Potlatch Corp., for $4.44 million in cash.

Missota Paper Company bought the Brainerd paper mill, formerly owned by Potlatch Corp., for $4.44 million in cash.
The sale follows an agreement reached by the two companies in the fourth quarter of 2002.
Potlatch Corp., Spokane,WA, closed the mill in May 2002 after selling another paper mill in Brainerd to the South African company, Sappi.
Missota plans to start production on PM6 in mid-March and will hire 150 workers, growing to 260 this fall. About 90% of its workforce will be former Potlatch workers.
A second paper machine will be brought on line in the third quarter of 2003, based on market demand.