Midway mill purchase completed

By Contributor

The deal for the purchase of the former Pope and Talbot mill located at Midway, B.C. has been finalized.

Doug McMynn, president of the board of directors of Boundary Sawmill Inc. (BSI) was pleased to announce, “It’s been a hectic week to finish off the negotiations however, we are happy and relieved it’s over and that the deal has been completed.”

The deal includes: a 10-year lease with option to renew with Vaagen Fibre Canada, ULC, an affiliate of Colville based Vaagen Brothers Lumber, Inc. to operate the mill; purchase of the mill from Fox Forest Products Inc., of Montana and payment of back taxes owing to the Village of Midway.

Randy Kappes, mayor of Midway, noted the potential economic impact the purchase and subsequent start-up of the mill will have on the community.

“For the last three years the mill property has sat idle and we all wondered what we could do to get it going again," said Kappes. "With the help of Stephen Hill, the federal conservative candidate for the BC Southern Interior, the Village of Midway is now an owner as will be numerous residents of Midway, Greenwood, and Rock Creek who have or are still in the process of purchasing shares in the mill.”

Hill, along with McMynn, Kappes and a team of lawyers set up the corporate structure so that shares could be sold. “Although we’ve closed the deal to buy the mill we’d still like another $3 or $4 million in shares to be purchased so we can move ahead with all our plans including the purchase of fibre,” said HIll.

Vaagen anticipates hiring up to 35 workers for the mill. “In a village of just over 600 people that’s a huge economic impact,” Kappes said.

An official ribbon cutting ceremony will be held shortly.