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| Corinth Wood Pellets LLC. Announces Opening of New Plant March 16, 2006 NEWS RELEASE For Immediate Release Ribbon Cutting Ceremony of Maine's Largest Wood Pellet Manufacturing Plant Friday, March 23, 2007 at 12:00 Noon - 74 Hob Rd, Corinth, ME Contact Kenneth Eldredge or Paul Faxon, 207-285-7700 Today- Corinth Wood Pellets LLC announced that they will start production of wood pellets this week at their new plant in Corinth, Maine. With production of over 140,000 tons of wood pellets per year, Corinth Wood Pellets will be the single largest wood pellet manufacturing plant in the United States. Corinth Wood Pellets, along with their investment group Corinth Holdings LLC, had invested over $4.5 million in the mill formally known as Corinth Products and Higgins Lumber Mill. Sitting on over 100 acres of land with easy access to Rt. 15 & Interstate 95, and located close to the Maine logging industry shipping ports, makes this a prime location for the wood pellet plant. Corinth Wood Pellets says that phase one of the project will create approximately 30 new jobs locally and up to 120 additional indirect positions such as truck drivers and wood industry related jobs. Corinth Wood Pellets have plans in the works to more than double the production levels and bring the plant to well over 300,000 tons per year, creating even more jobs and tax revenue for the Town of Corinth and the State of Maine. Sales of the alternative fuel, wood pellets, will be sold first to localretailers in the State of Maine and New England with a good portion slated for sale in Europe and exported through the sea ports in the State of Maine. We are very excited about the business and the economic impact of new jobs that the company is going to generate, said Kenneth Eldredge, Managing Partner. Although, Corinth Wood Pellets is a privately founded project, we are able to take advantage of State Agency incentives that are in place to revitalize the local region. We worked closely with Bill Osborne of Maine Department of Economic and Community Development (DECD), Tom Gallant of the Maine Small Business Development Center (SBDC) and Chris Shrum of Eastern Maine Development Corporation (EMDC) and their staff members. Corinth Wood Pellet's plan is to provide its employees with a great benefit package and a safe work environment along with being an employer of choice. In addition, we plan to have a large focus on community development and service giving back to the community. |
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