According to a report in the local media outlet, The Miner, pending approval from bankrupcty courts, the former Ponderay Newsprint Mill in Usk, Washington, will be reopened as a corrugated production facility, according to court filings from Chapter 7 Trustee John D. Munding.
Allrise Capital had the winning bid, in the amount of $18,100,000.
“I am informed that Allrise will be restarting paper mill operations, with an aim to repurpose selected portions of the paper mill into an Old, Corrugated Cardboard (OCC) paper production facility. In summary, an OCC facility would produce cardboard materials used in packaging, manufacturing, e-commerce, shipping, and other industries,” Munding wrote in the filing. “Allrise also has a strong interest in building and managing high-tech data centers for cloud computing operations. Allrise is committed to employing personnel to operate the paper mill facility as soon as possible.”
Three entities submitted qualifying bids: PPL Acquisition Group, the Kalispel Tribe of Indians and Allrise. All three participated in the auction process and bidding procedure, which commenced via email on Monday, April 19, and continued through Friday, April 23. The live auction was held Friday via Zoom and in person. The bidding took an hour and a half and there were approximately 60 rounds. Allrise made the last bid of the day at $18.1 million.
