There's good news for beleaguered Grays Harbor County.
Weyerhaeuser Co. announced Thursday that it sold its shuttered Cosmopolis pulp mill to an investment group led by a Los Angeles equity firm.
That group said it intends to refurbish the mill, which produces specialty pulp from wood fibers, and will begin hiring workers soon.
The Gores Group LLC, a Los Angeles-based private equity firm, announced that it led an investor group that includes Dermot Smurfit, a paper and packaging industry veteran. The price was not disclosed.
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“The Cosmopolis mill has a wonderful heritage of producing very high quality products and we are delighted to operate this mill alongside a management team that has substantial experience restarting and managing similar mills,” said Jordan W. Katz, managing director of The Gores Group. “We are proud to be leveraging our resources to restore the Cosmopolis mill and create new jobs in the Cosmopolis area.”
The cellulose mill will be called Cosmo Specialty Fibers, Inc. Weyerhaeuser closed down the mill in early 2007. At full production, the 53-yearold mill near Aberdeen employs 245 workers.