JAY, Maine —
A company has purchased the Pixelle paper mill in Jay, as well as all mill equipment and the nearby power plant.
Pixelle Specialty Solutions, a manufacturer of specialty papers, announced its closure in 2022 and shuttered in April of 2023.
The closure came after an explosion of one of the mill’s pulp digesters in 2020. That explosion was said to have caused “catastrophic damage” which impacted the continued operations at the mill.
The property was purchased by JGT2 Redevelopment, LLC. The LLC is described as a joint venture of New Mill Capital Holdings, Infinity Asset Solutions and Camjay LLC, a real estate company and leader with a long history in the state.
The partners say they are already finding potential new tenants for the property and plan to invest money and time into the site.
“We are thrilled to have acquired the Jay mill and plan on making a significant investment to bring economic life back to the property,” Tony McDonald, President of Camjay said. “The site’s heavy infrastructure can be repurposed for a variety of industrial uses, and we have already started the process of identifying potential new users for the property.”
Assets that wont be able to be used will be sold as part of an auction from May 7 to the 10, 2024.
After auction, JGT2 Redevelopment plans to open the property for tenants. The building has nearly one million square feet of space.
According to the partners, it would be a good place for a multi-tenant space with bays having there own loading, parking and office areas.