- Associated Press - Tuesday, April 18, 2017

MADISON, Maine (AP) - A shuttered Maine paper mill has agreed to sell its hydro power assets to a New Jersey hydroelectric power producer.

Madison Paper Industries has signed the agreement with Eagle Creek Renewable Energy LLC, which is based in Morristown, New Jersey. The paper mill closed in May and was sold in December to a buyer that wants to put the property back into use an as industrial site.

The Morning Sentinel (https://bit.ly/2oJotxd ) reports future uses of the mill site have been on hold pending sale of the hydroelectric assets.

Parties involved in the sale of the hydroelectric assets have agreed not to disclose the price. The sale was announced on Tuesday. The mill has been in Madison since 1978 and was producing about 195,000 tons of paper annually when it closed.

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