FRANKLIN -- More than 15 potential buyers have expressed an interest in International Paper Co.'s paper mill in Isle of Wight County , Gov. Bob McDonnell said today.
On his first visit to the plant since being sworn in as governor last month, McDonnell said state officials will work with International Paper Co. to find "the best possible use" for the plant, which will close this year, costing 1,100 people their jobs.
McDonnell did not identify any potential buyers for the plant, but he said many of the companies that have made inquiries with state and local officials are in the bioproducts or green energy industry.
"Ultimately, this is a decision for International Paper," McDonnell said. "It's their asset, and they will have to decide what makes sense to them. We want to be able to help with regard to who they think might be the best purchaser or partner, whatever their business plans are."
International Paper announced in October that it will close the mill this year, blaming soft markets for its products and overcapacity in the paper industry. The closure is a major economic hit to surrounding localities, including the city of Franklin and Isle of Wight and Southampton counties.
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