JUNE 24, 2010

Kamiah mill sold to Seattle buyer; hopes to employ 60 workers

   A fishing company owner in Seattle has purchased the Kamiah mill for $2.65 million and plans to run a single shift and hire about 60 workers.

   The new owner, Michael F. Burns of Seattle expects to have the mill up and running by August.

   The mill closed in November of 2008, leaving more than 100 employees out of work.

   Burns said Herb Hazen who was formerly employed as vice-president of manufacturing and sales at the mill will continue to oversee the operations. Burns will remain in Seattle but plans to visit the mill once a week.

   Wells Fargo foreclosed on former owners Wm. and Shirley Mulligan. The receiving company Inverness Group, Inc of Portland, OR placed a minimum asking price at $6 million in hopes of selling the mill intact as a going concern. The highest bid at that auction was $900,000           

   After attempts to sell the mill as a continued operation the mill was set to be sold piece meal at an auction block later this month.

   Burns reportedly thinks the timber market is improving and believes that it will come back to a level that will be able to sustain the mill.

   He first heard about the mill by word of mouth when it closed down and became interested in buying it.

   Negotiations continue with former mill owner Wm. Mulligan as to whether he will be involved in the millís operation.