Maine paper mill revived by Chinese investment
China Daily USA |
Updated: 2018-06-09 02:38
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Located in Baileyville, Maine, St Croix Tissue was once a bright spot in the small town for almost a century.
In the late 1980s, there were 1,200 people working in the pulp, paper, and oriented strand board plants in the area. By 2009, there were about 320 people in the pulp mill left.
In 2010, International Grand Investment Corp (IGIC), a US-based company for a Chinese investment firm, acquired the mill and injected $180 million. In 2016, IGIC invested $120 million in two new tissue-making machines.
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