GREENWOOD, ME -- Saunders Brothers dowel mill sold for $450,000 at auction to a Bangor area businessman.
According to the Sun Journal, Steve LaFreniere, owner of Eastbrook Timber Corp. of West Enfield, ME, plans to reopen the mill. His winning bid reportedly included the 26.63-acre mill complex; a 71,700-square-foot manufacturing and warehouse facility; wood-turning, machine shop, and welding equipment; $743,000 in inventoried dowels and other wood products; and Saunders Brothers name, customer list, phone number and website. The sale price was about one-third of what the business had been estimated.
The Saunders Brothers plant closed in late May, putting 55 people out of work. LaFreniere told the newspaper that he has purchased three other mills in the last four months. He said his plan is to work with state and local economic development agencies to develop a plan to re-start the plant.
Read the Sun Journal's report.
According to the Sun Journal, Steve LaFreniere, owner of Eastbrook Timber Corp. of West Enfield, ME, plans to reopen the mill. His winning bid reportedly included the 26.63-acre mill complex; a 71,700-square-foot manufacturing and warehouse facility; wood-turning, machine shop, and welding equipment; $743,000 in inventoried dowels and other wood products; and Saunders Brothers name, customer list, phone number and website. The sale price was about one-third of what the business had been estimated.
The Saunders Brothers plant closed in late May, putting 55 people out of work. LaFreniere told the newspaper that he has purchased three other mills in the last four months. He said his plan is to work with state and local economic development agencies to develop a plan to re-start the plant.
Read the Sun Journal's report.
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