Katahdin Region Paper Mills Have New Owner

Updated 3 years ago

The Katahdin region paper mills now have a new owner.The New Hampshire based company, Cate Street Capital, signed paperwork Friday evening, buying the paper mills and employing several hundred workers starting Tuesday.A LePage spokesperson confirmed that they have closed in escrow.Closing in escrow means that Cate Street Capital will take over the mills at a considerable financial risk, while it awaits the transfer of environmental permits from the previous owner which cannot occur until September 27. A final closing is expected before the end of the month.Many members of the both the East Millinocket and Millinocket communities were eager to see this deal go through and hope it rejuvenates the Katahdin region economy.


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