Meriturn Withdraws from Katahdin Acquisition
04/08/2011
On April 8th, Meriturn withdrew its intent to acquire Katahdin Paper, LLC. Conditions required from both towns involved as well as with the State did not occur timely and consequently some of the largest customers began to fulfill their supply needs from other vendors. With the loss of the key customers we did not see a path to turn around the business.