Paul Veldman

Paul Veldman said his BMI Group wants the highest and best use for the idled pulp and paper plant in Espanola. The CEO of the southwestern Ontario brownfield redevelopment outfit is targeting late May to finalize a deal with Domtar to acquire the mill, a 16-megawatt hydroelectric asset, plus hundreds of acres of brownfield land and woodlands. The mill closed in 2023, taking away 450 jobs. Neither BMI or Domtar are disclosing the purchase price. Veldman said BMI had been spying Espanola as an acquisition target for a year, with discussions with Domtar heating up over the last couple of months when other suitors started coming forward. It culminated in the signing of an asset purchase agreement this week. …Veldman said BMI has latched onto the global phenomenon of alternative fuels and emerging technologies that create those products from wood fibre. …For Espanola Mayor Doug Gervais, there’s a palpable sense of relief in the community…