Four bidders for former Stora mill
The court-appointed monitor, Ernst & Young, has confirmed that discussions with the four firms have begun.Paper Excellence, a Dutch company that has purchased several pulp mills in Canada in recent years, is reported to be one of the eight original bidders. Paper Excellence already owns a nearby mill in Nova Scotia, Northern Pulp Nova Scotia, Pulp & Paper Canada reports.According to Pulp & Paper Canada, Port Hawkesbury mill would give Paper Excellence a foothold in the North American paper market. Paper Excellence is affiliated with the Sinar Mas Group of Indonesia and its subsidiary APP. APP is hindered in the United States market because of high tariffs on paper imported from China and Indonesia.NewPage Port Hawkesbury was built by Swedish Stora nd owned by Stora Enso until 2007. The mill produced newsprint and supercalendered paper. The supercalender machine is said to be one of the best in North America, but the mill was challenged by high electricity costs and a strong Canadian dollar. The Port Hawkesbury mill was placed under creditor protection last month, Pulp & Paper Canada reports. /AA