AbitibiBowater wants to sell its mill in Lufkin, TX

AbitibiBowater wants to sell its plant in Lufkin, Texas that was permanently idled in December 2007.

AbitibiBowater is seeking court approval to sell the mill to CIT Partners LLC. The plant consists of 895.5 acres of land, including 150 acres of landfill and 100 acres of ponds and marsh.

If the sale is approved, AbitibiBowater would save about $250,000 a month, or $3 million a year, that it spends on maintaining the facility. The sale also would protect the company from “any potential environmental liability that may arise” associated with the property.

Source:

AbitibiBowater Wants to Sell Plant for $20.5 Million (Bloomberg)