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AbitibiBowater continues fire sale with T-Bay mill

A shuttered Thunder Bay paper mill was one of four properties sold to American Iron & Metal Company (AIM) for $8.7 million. The Fort William mill was shut down three years ago.
Northern Ontario Business Staff
A shuttered Thunder Bay paper mill was one of four properties sold to American Iron & Metal Company (AIM) for $8.7 million.

The Fort William mill was shut down three years ago.

The other properties are idled mills in Quebec (Beaupre and Donnacona) and New Brunswick (Dalhousie).

The Montreal pulp and paper giant entered bankruptcy protection in 2007 and has sold off almost $1 billion in assets as it restructures.

AbitibiBowater will be paid 40 per cent of the proceeds from the sale of the mill's paper machines, of which AIM has agreed to pay $5 million by Sept. 6 regardless of whether any sale takes place.