Newton Falls Fine Paper was sold intact at the conclusion of a day-long auction in Syracuse Thursday to an undisclosed buyer.
The buyer intends to restore the mill and utilize the infrastructure, said Mark Fleckenstein, a representative of Continental Plants Group, which conducted the auction. The mills going to go back to work.
Mr. Fleckenstein said the bid for $2.1 million was 10 percent in excess of individual bids made throughout the day for the mills equipment. The individual bids were voided at the end of the auction Thursday evening.
Weve had some complaints, Mr. Fleckenstein said.
Robert G. Patzelt, vice president of corporate development for Scotia Investments, Halifax, Nova Scotia, the parent company of the Newton Falls plant, said he did not have time to answer questions about the sale.