A bankrupt Alaskan veneer mill may be bought by a timber industry expert and a group of partners in time to prevent an auction of its equipment.
Expert Philip Tedder, who has worked in sawmills and timber economics consulting, is looking to buy the Ward Cove mill formerly operated by Gateway Forest Products whose bankruptcy reorganisation case was dismissed in April. Its liabilities totalled US$45m.
An auction of mill equipment is scheduled to take place on July 16-18 at Ward Cove.
