Here's the latest from Friday's Chamber of Commerce Meeting...
I DID NOT attend, but have spoken with someone who did. So, please take it for what it's worth.
Cate Street Capital WAS represented and, in fact, John Halle was in attendance. For more on his bio, visit HH Capital too.
Laidlaw rep(s) also there (Alexandra???) The connection between LLEG and Gorham Paper is simple; they share the same primary investor group (Cate Street Capital).
While some may believe that is where the connection ends, I have other thoughts. The synergies are just too obvious.
Union reps, also in attendance on Friday, spoke of another company considering space on the mill property. You may recall that Laidlaw reached an agreement with another company back in the fall of 2010. Though the company name has not yet been revealed, it is well described in a news article which is posted on the PUC web site and is PSNH's Exhibit #10.
I believe that company to be ITACONIX, a startup out of the University of New Hampshire. By the way, Cate Street Capital is located at 1 Cate Sreet in Portsmouth, NH (stone's throw from UNH). Coincidence? Perhaps. If interested, visit their website at www.itaconix.com.
Here's where I truly believe we are headed soon; ALL JUST MY OPINION, THOUGH:
- PUC approves PPA; deliberations are rumored to begin today with a decision of some sort due soon
- Deal is announced re. ITACONIX; could be a sub of Laidlaw or an independent holding of Cate Street
- chips to be used by biomass are first processed by ITACONIX; this makes total sense as the chips are needed anyway ... resource ends up FREE to ITACONIX which drastically increases profit potential
- ITACONIX uses space on Gorham Mill property for workers to complete the processing of polyitaconic acid (in high demand for "green" products)
- Berlin BioPower (biomass), ITACONIX, and Gorham Paper utilize THE SAME support staff to further increase efficiencies (i.e. human resources, payroll processing, accounting, sales, ETC, ETC, ETC). Again, office space ALREADY exists on Gorham Mill property.
- the same model (re. biomass/ITACONIX) could be repeated time after time as BOTH need biomass); for that reason, it might make sense to have LAIDLAW own ITACONIX
ALL JUST MY OPINION, OF COURSE!!!!!!!!!!!!
By the way, I agree that FRASER stripped all away from Gorham Mill. Even with that, all FRASER financial reports indicate that the Gorham facility was their MOST PROFITABLE mill. Now consider: natural gas pipeline and methane gas from landfill to reduce dependence on OIL; hot water from biomass plant; and, shared support services as described above. It just might work!!!!
GLTA and GO LLEG ... let's see some BUY volume!
