First Nations take ownership stake in Hornepayne sawmill, co-gen plant

Northern Ontario Business
November 29, 2017
Category: Business & Politics
Region: Canada, Canada East

An alliance of three First Nation communities in northeastern Ontario is taking a 30 per cent stake in a Hornepayne dimensional lumber mill and co-generation plant. The newly formed Northeast Superior First Nation Investment LP has finalized a deal to be a partner in Hornepayne Lumber and Hornepayne Power. The group is delivering a $4 million equity investment in the two ventures. The group consists of the Missanabie Cree, Chapleau Cree and Netamisakomik Anishinabek (Pic Mobert) First Nation. A memorandum of agreement was signed with the mill’s principal owner, Frank Dottori, back in July. The deal was finalized Nov. 29 at a ceremony in Hornepayne.  Dottori bought the former Haavaldsrud sawmill in a bankruptcy sale in 2016. The mill and co-generation plant shuttered operations in November 2015, throwing 146 people out of work. Production resumed last January. The operation employs 90 people.

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