Earlier this month a bankruptcy court judge approved the sale of the Hagerstown, MD., deinking facility to Belkorp Industries, a Vancouver, B.C., based company for $7.5 million.
Belkorp already owns a groundwood deinking facility in Canada. The company has been on a tear lately, purchasing a number of the idled or distressed stand-alone deinking facilities in the eastern half of the United States
Belkorp acquired the facility at an auction last month, although the sale had to be formally approved by the court. The facility was formerly called 1st Urban Fiber and Hagerstown Fiber Operations. The mill has been idled since the summer of 1997, with Chapter 7 bankruptcy filed in early 1999.
According to local reports Belkorp expects to rename the plant Newstech MD.
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