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/PRNewswire/ Ponderay Industries, LLC is moving forward with plans for a restart of its papermill located in Usk, Washington and has announced it is in.
Pend Oreille PUD officials raise concerns about Ponderay Newsprint sale By Thomas Clouse, The Spokesman-Review
Published: April 30, 2021, 8:05am
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Before a federal judge could approve a proposed sale of the closed Ponderay Newsprint Mill to a California-based venture capital company, concerns were raised during a court hearing Thursday about potential plans to use power allotted to the mill for cryptocurrency mining.
U.S. Bankruptcy Judge Frederick Corbit conducted a hearing Thursday to accept the results of an April 23 auction in which three parties put forward $350,000 to bid to purchase the plant in Usk. Its previous owners filed for bankruptcy protection last year and the closure resulted in the layoffs of about 150 workers.
Ponderay Newsprint auction winner likely to be announced Friday By Thomas Clouse, The Spokesman-Review
Published: April 23, 2021, 8:45am
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SPOKANE Three qualified bidders have submitted bids in the auction to purchase the shuttered Ponderay Newsprint mill in Usk, Washington, with the winner expected to be named Friday afternoon.
Up to this point, negotiations failed to find a new owner for the 927-acre property, which consists of 29 buildings and storage facilities and is adjacent to the Pend Oreille Valley Railroad and Pend Oreille River. What was once one of the largest employers in Pend Oreille County was listed for sale in December for $11.5 million.