Smurfit-Stone Container sale in works for Frenchtown, Montana, Michigan mills

Details were sparse on Tuesday, but a spokesperson for Smurfit-Stone Container Corp. confirmed a sale is under way for its shuttered paper mills in Frenchtown and Ontonagon, Mich.

"We do have a signed agreement for the sale of both mills and hope to close by year end," said Ron Megna, assistant general counsel for Smurfit-Stone Container. "The buyer still has due diligence to complete. The buyer has not consented to my releasing any other information at this time."

Who the buyer is and what that buyer plans to do with the mill sites remains a mystery.

Late Tuesday, Missoula Mayor John Engen had only heard rumors about the sale agreement but nothing more substantive.

"I don’t know a thing about it," Engen said. "I wish I knew more, and I’ll continue to await further news and I will hope for the best. I hope it’s good news for the community."

By BETSY COHEN of the Missoulian

Full Story: http://missoulian.com/news/local/article_23da9780-0292-11e0-8bf7-001cc4c03286.html