POLITICS

New Brunswick offers $35 million loans to new owners of paper and lumber mills

06/10/2013 03:38 EDT | Updated 08/10/2013 05:12 EDT
EDMUNDSTON, N.B. - The New Brunswick government is offering a repayable loan of up to $35 million to the new owners of paper and lumber mills in Edmundston, Plaster Rock and Madawaska, Maine.

Economic Development Minister Paul Robichaud says the money for Twin Rivers Paper is contingent on a matching loan from the majority ownership group, Blue Wolf Capital Partners and Atlas Holdings.

In an announcement today in Edmundston, Robichaud says the government's financial support could help ensure the long-term future of the forestry sector in the province.