Abitibi Expected to Merge, Deadline Approaching - KTRE.com | Lufkin and Nacogdoches, Texas

05/22/07 - Angelina County

Abitibi Expected to Merge, Deadline Approaching

by Jessica Cervantez

Abitibi Consolidated has until July 1st to make an announcement involving the Lufkin division, or they will have to pay back taxes for 2005 and 2006.

Abitibi Consolidated is merging with Bowater, another paper company, based out of South Carolina. That merge is supposed to go through in the third quarter.

But Abitibi only has until July 1st to make an announcement for the Lufkin division, or they will have to pay all abated taxes to Angelina County and Angelina College. If they miss the deadline, then all agreements are void.

No announcement is expected until after the merge.

Director of Economic Development Jim Wehmeier says they still support the re-opening of the mill and hope to be able to work with the newly formed corporation after the merger to get a relaunch.
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