LUFKIN, TX (KTRE) - The old Abitibi paper mill, located east of Lufkin, is going on the auction block.
This action comes after the plant has sat idle for years and a recent decision by an investment group not to go through with a deal to purchase the plant.
Bankruptcy court and the current plant owners AbitiBowater decided to auction off the mill.
According to Jim Wehmeier, director of Angelina County Economic Development, the bids are sealed and therefore it's not known what the eventual owner will do with the multi-million dollar property.
"The first step, since the community knows Abitibi isn't going to re-open it, is to get it in somebody's hands that wants to do something with it, so I think it'll be an emotional boost. I know it will be to us and I think it will be to the citizens because once somebody owns it that really wants to do something with it, then, you know, we've got something we can work with," Wehmeier said.
Qualified bids are being taken through Wednesday. A live auction will begin in early August. The nearly 900 acre plant could officially change hands within about 45 days.