Natchez Inc. making progress in finding buyer for plant
Published: December 21,2012
Tags: acquisition, buy, buyer, city, economic development, government, industrial, land, manufacture, manufacturer, manufacturing, municipal, municipality, plant, property, purchase, real estate, sale, sell
NATCHEZ — Economic developers say progress is being made toward goal of having a buyer for the Mississippi River Pulp plant.
The Natchez Democrat reports a local economic developer group — Natchez Inc. — has been working with MRP since the company shut down its recycled fiber plant Oct. 31.
Natchez Inc. director Chandler Russ said talks are progressing with one potential buyer. He has declined to identify the buyer until all the paperwork is done.
Russ said the sale could be closed toward the end of January.
MRP announced eight days before the final day of work for the 79 impacted employees that it would be shutting down the Natchez plant. The company said despite its best efforts to find a wider market after buying Mississippi River Corporation in 2010, they had not been able to find enough demand to keep the facility open.
MRP bought MRC approximately three months after MRC filed for bankruptcy.
Before the closure, MRP said it had spent several months looking for buyers of the property, and has continued the effort to sell it even after shutting down the plant.
The factory was originally opened as a Diamond International factory and produced fiber-based products such as egg cartons.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Regions must pay $7.5 million in fines over illegal overdraft fees
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- Two new casinos like the odds on Mississippi Gulf Coast
- DAVID DALLAS: Getting a grip on LGBT issues
- Bradley Arant Boult Cummings attorney Alan Perry takes office as IHL board president
- CFPB wants repay ability at center of new payday loan rules
- Governor signs fracking bill as database comes under scrutiny
- Mississippian Glenn McCullough Jr. gets nod as new MDA chief
- Irby commits suicide after wife's prison release
- Meridian DJ group brings dubstep, EDM to Queen City