NRI Global Inc., a Canadian investment firm, bought all the equipment at Oregon City’s Blue Heron paper mill hours before an auction began.
NRI Global Inc., a Canadian investment firm, bought all the equipment at Oregon City’s Blue Heron paper mill hours before an auction began.
The $5.7 million deal completed Sept. 19 meant the proceeds of the auction went to NRI Global, Inc. The company also took over the expenses related to maintenance and decommissioning of the Blue Heron site through August 2013.
NRI Global specializes in acquiring assets of distressed companies, particularly in the paper, energy and resource industries. The company has an office in Buffalo, New York, which managed the Oregon City purchase.
“Our interest is to be there for two years and to deliver an outcome so this site can be more attractive to the real estate market and developers,” Peter Boyd, NRI Global’s Director of Investments, said Tuesday.
Read more at OregonLive.com.
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