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Homepage > Project Economy

Deal To Buy Gorham Paper Mill Falls Through
Fraser Papers Says Funding Not In Place For Purchase
POSTED: 5:14 pm EDT September 28, 2010
UPDATED: 6:01 pm EDT September 28, 2010
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GORHAM, N.H. -- A deal to sell the Fraser Papers mill in Gorham has fallen through, and the company said it will soon close the mill indefinitely.

In June, Manchester investment group Merchantbanc stepped forward and said it would buy the mill and save all 240 jobs. Fraser Papers said Tuesday there was insufficient funding to complete the deal.

The company said it is starting over again to try to find a new buyer.

Fraser Papers said the mill will be closed indefinitely on or about Oct. 13.