The shuttered Prince Albert Pulp Mill, once considered by Iogen for an ethanol plant, has been sold.
Paper Excellence has purchased the building from Domtar and will convert it to produce dissolving pulp used in a variety of products, such as rayon.
The company intends to invest more than $200 million in the conversion, which will take 18 to 24 months. This will result in hundreds of construction jobs, as well as an estimated 200 jobs in the mill.
The transaction is expected to close in the second quarter of 2011.
Paper Excellence also owns the Meadow Lake Mill.
