The Smurfit-Stone Container Corp. mill has been sold after sitting vacant in Bathurst for almost five years, according to the city's mayor.
The corrugated paper mill put 270 people out of work when it shut down suddenly in August 2005.
The mill, which is located in the city's downtown area, has sat idle since it was closed as the city and New Brunswick government has attempted to find a buyer for the mill.
Bathurst Mayor Stephen Brunet said the details are scarce, but he has received information that the mill has been sold to a company called Bathurst Redevelopment Inc.
He said he doesn't know what the company's plans are for the mill, but he is eager to find out.
"The biggest thing I think it could mean would be that the site would get cleaned up. It's becoming pretty bad looking," Brunet said.
"I'm hoping that that will be dealt with and cleaned up and if there's anything salvageable that a new business will set up in there.
Bathurst Liberal MLA Brian Kenny has also confirmed that the mill is sold.
Kenny said he and the mayor are both waiting for more information from the new owners.
When the Bathurst mill was shut down, Smurfit-Stone also shed 295 jobs from a similar mill in New Richmond, Que.