January 2012 Archive

Items of Interest for January 2012:

State of Maine Grant EFC Cut-off Increased

Mary Dyer named President of Maine Jump$tart

Legislative Update

The Board of Directors of the Finance Authority of Maine (FAME) has approved loan insurance for Twin Rivers Paper Company in Madawaska.  FAME’s actions will help accelerate the company’s strategic initiatives  and help maintain approximately 630 jobs in Maine.

“FAME is pleased to support Twin Rivers Paper and the Madawaska mill, which is a vital asset to the community and to the state as a whole.  Our expectation is that the mill will remain competitive on a global basis and continue to employ hardworking Mainers,” stated FAME Board Chair Susan Snowden. 

FAME’s loan insurance of 90 percent on a $5.27 million direct loan by Canadian Imperial Bank of Commerce will provide additional working capital for Twin Rivers Paper Company.  Part of a larger financing package, the deal will enable the company to maintain 630 jobs in Maine and 400 jobs in New Brunswick.  Twin Rivers Paper is an integrated specialty paper company that manufactures publishing, packaging and label products for targeted markets and applications.  It has operations in New Brunswick, Québec, and Maine.

Twin Rivers Paper President and CEO Jeffrey Dutton stated:  “Thanks to FAME’s assistance, Twin Rivers Paper will accelerate its strategic initiatives maintain good-paying jobs in the state and successfully compete in the global marketplace.” 

Items of Interest for December, 2011:

Outreach Events

State of Maine Grant EFC Cut-Off Increased

Legislative Update