Capital Recovery Group announces dates for auctioning paper mill equipment in Wisconsin Rapids

photo from billerud.com

“Paper machines and other equipment will be auctioned off later this month in Wisconsin Rapids.

Verso announced in June 2020 it would idle production at its paper mills in Wisconsin Rapids and Duluth, Minnesota, at the end of July because of a decline in demand for graphic paper. In March 2022, Verso officially merged with BillerudKorsnäs AB, who since changed its name to Billerud. Last month, Billerud announced it would sell the idled portions of its Wisconsin Rapids paper mill to Capital Recovery Group LLC.

PCR Rapids, a group made up of Capital Recovery Group, Rabin Worldwide and PPL Group, announced Friday it will start finding parties interested in buying the entire mill site or select portions. According to that announcement, the entire site stands on 1,400 acres along the Wisconsin River. PCR will own the land, but Billerud will continue owning and operating its hydroelectric facilities and the converting facility, employing 130 workers directly.

PCR will market paper machines and other operating equipment for sale. At the same time, the group will host a three-day public auction for spare inventory, maintenance equipment, rolling stock and more from April 23 through 25. Items up for auction include fabricating equipment, complete machine shops, welders, bulldozers, cranes, log loaders, forklifts, pumps, winders and more. The auction can be found at www.rabin.com. More information and appointments can be made to see items for sale by contacting Rabin Worldwide.”

Quote from www.wisconsinrapidstribune.com