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Verso Announces Buyer for Closed Sartell Paper Mill [AUDIO]

Steven Sohlstrom, FlightFlash.com

SARTELL (AP) – Verso Paper Corporation has announced plans to sell its fire-damaged paper mill in Sartell.

Verso said Tuesday it is selling the mill to AIM Development (USA) LLC. Terms were not disclosed.

The deal was announced in a two-paragraph email. According to the email, the transaction is expected to close in the first quarter.

Verso said in the statement it is not commenting on the deal.

Sartell City Administrator, Patti Gartland says the city has very limited information at this time but she thinks it is a turning point for the property, and is looking forward to sitting down with the new company.

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An explosion and fire at the mill killed one worker and injured four last Memorial Day. Verso announced in August it would not reopen the mill. Nearly 260 people worked at the plant.

(Copyright 2013 by The Associated Press. All Rights Reserved.)

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