LignaTerra stops investment in gluelam works

25.01.2019 − 

The construction of a cross-laminated timber (CLT) works and a gluelam-timber works announced by the US-American LignaTerra Global is not going to take place in Millinocket, Maine, after all. According to a report by the local non-profit development company One Katahdin, which is renting the land planned for the gluelam-timber works to LignaTerra, the plans failed on the still outstanding replacement of old federal-tax liens to the tune of 1.4m US$. One Katahdin says the liens blocks the provision of a total of 5.3m US$ in infrastructure funds already provided by the U.S. Economic Development Administration (EDA) for restoring the roughly 300 ha site.

LignaTerra had originally planned to invest some 30m US$ in the facility by building the glue-lam-timber timber works via its newly-founded subsidiary LignaCLT LLC. The company says it had given One Katahdin roughly 10 months to prepare the land for the investment. LignaTerra had first announced the plans for the works at the beginning of March 2013.

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