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Auction Set for East Millinocket Paper Mill

EAST MILLINOCKET, Maine - The attorney for the trustee for a bankrupt Maine paper mill says a federal judge approved the sale process for the mill's equipment and buildings.

A company called GNP Acquisition is offering to buy the Great Northern Paper mill in East Millinocket for $2.6 million. The attorney says the company also has the option to buy the land for $350,000. Other parties can bid on the shuttered mill until Dec. 1. An auction is set for Dec. 2.

Federal bankruptcy Judge Louis Kornreich considered the motion to approve the sales agreement at a Friday hearing in Bangor. The president of Connecticut-based auction company Capital Recovery Group signed the asset purchase agreement on behalf of GNP Acquisition.