OLD TOWN, Maine (WABI) - The idled mill will re-open under new ownership at the beginning of the new year.
ND Paper LLC, which also owns the Rumford mill, has reached an agreement to purchase the property that has not functioned as a mill for three years.
The new mill owners say this will create more than 100 new, high paying jobs.
UMaine's forest bioproducts research institute has a research center in the mill's warehouse, which city officials say will remain on the property.
Tuesday, ND Paper LLC announced it was investing more than 100 million dollars into the Rumford facility with plans to add 50 new jobs there.