Company paid $12.5M for Verso paper mill

10:15 AM, Mar 15, 2013   |    comments
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SARTELL, Minn. - County records show a development company paid $12.5 million for the former Verso Paper Corp. property in central Minnesota.

The majority of the purchase by AIM Development, about $11.5 million, is for the fire-damaged paper mill and 60 acres on the Benton County side of the Mississippi River. The other million is for about 180 acres on the Stearns County side.

The St. Cloud Times says AIM Development hasn't revealed its plans for the property.

The paper mill's long history with the city of Sartell came to an end after an explosion and fire last Memorial Day killed one person and injured four others. Verso later announced the damage was too significant to rebuild. Nearly 260 people were employed at the plant.

(Copyright 2013 by The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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