Title

"Focus on the Augusta-Waterville Region" piece on the former Statler Tissue mill

Authors

Sean Donahue

Source

Mainebiz

Date

1-5-2004

Pages

1, 22-24

Abstract

"Focus on the Augusta-Waterville Region" piece on the former Statler Tissue mill, which has been closed since 2001, when the mill's parent company, American Tissue Inc., collapsed. Charges that the company defrauded investors out of $305 million were filed against CEO Mehdi Gabayzadeh and other executives. Now Nima Nili, Gabayzadeh's son-in-law, and other investors, under the name Augusta Tissue LLC, have approval to buy the mill and are working to settle its debts, receive a landfill license, and start up operations. Nili and his partners, operating under the name Evergreen Group, run a tissue converting mill in Coram, N.Y., and hope the Augusta mill will be the final step in creating a mid-sized, vertically integrated operation that handles every step of the tissue making and distribution process. With details on their business plan.

Subjects

Augusta Tissue LLC, Paper mills

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