News & Press

Oregon City Project
Published: October 21, 2011, 3:00 pm EST

Oregon City, OR September 23rd, 2011 - Press Release - The Bankruptcy Estate of Blue Heron Paper and NRI Global Inc. jointly announced today NRI's acquisition of the Blue Heron - Oregon City mill assets. NRI made an opening bid at the auction on September 21 for the blue Heron personal property assets in their entirety, and were the successful bidder. NRI is a New York based company that acquires and manages assets in transition throughout North America.

The Oregon City facility ceased production in 2011. The three paper machines at the Oregon Pine Falls mill produced approximately 600 tons per day of newsprint, bag, high - bright, and toweling products from recycled paper and TMP pulp. The mill has a paper making legacy that dates back to 1908 when it was first operated by the Hawley Company.

NRI developed a comprehensive two-year plan to remove production assets while providing site maintenance and environmental decommissioning services. NRI will commence work immediately. The bid was of significant benefit to the bankruptcy estate and its creditors by providing fair return for the assets while saving significant future expenses and mitigating safety and environmental risks associated with the property. The real property in Oregon City and the lagoon located in West Linn remain for sale, with a current bid deadline of October 19, 2011. The real property is being offered by Stuart Skaug through the CBRE Portland, OR office.

NRI Global is a private investment firm that acquires distressed assets. NRI Global has offices in Toronto, Ontario and Buffalo, New York. The firm specializes in pulp and paper, energy, and resource transactions in North America. NRI Global and its subsidiary companies have operational expertise in finance, environmental remediation, site redevelopment, industrial services, and trade.