Ontario gives more money to St. Marys Paper

The province of Ontario is giving St. Marys Paper in Sault Ste. Marie a $8.8 million loan.

The mill plans to reopen this December after being closed since March. The mill plans to resume production of supercalendered paper, and also has plans to pursue long term bio-economy projects, including a 35 MW biomass co-generation plant and a wood pellet plant.

The company also will engage in nano-technology product development partnerships and studies with the University of Toronto, and other bio-economy projects with private sector partners and the Sault Ste Marie Innovation Center.

The company will be calling back employees as soon as possible and will start up forestry operations to supply the mill immediately. Raw material supply and contracts will be finalized in November to have all necessary products and equipment in place.

The province of Ontario has already put millions of dollars into this Sault Ste. Marie mill, including $17 million to the current group of owners when they purchased the mill in 2007.

See St. Marys Paper's new website: http://www.stmarys-paper.com