The Industrial Development Board of Shelby County, Tenn. authorized a 10-year tax abatement to Super America Tissue Mills of Tennessee LLC as part of a financing program to take over and reopen a tissue mill that was shuttered earlier this year. The company was seeking the tax abatement from the county as part of its plan to take over the ownership of the idled Global Tissue Mills, located in Memphis.
The tissue mill had gone through several owners during its existence. The mill, which had been struggling with slack markets for the past several quarters, saw a significant portion of its business end when Kimberly-Clark opt to cut its orders from the company. K-C purchased 30 percent of Global's finished product. (see related article Sept. 15th.
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