PORT ANGELES — The shuttered KPly mill is one step closer to reopening.
The Peninsula Plywood Group announced in a prepared statement today that it has signed an agreement with Sterling Savings Bank to purchase the equipment at the idled plywood mill, located on Marine Drive.
Few details were provided.
Closing of the purchase, which is to occur by July 15, is dependent upon Peninsula Plywood “coming to terms” on a lease of the property 19-acer property with the Port of Port Angeles.
The port owns the property and holds a lien on the mill’s buildings against the former Alaskan owner.
“We’ve achieved an important first step in a process that will create a significant number of jobs for the community and will allow us to return plywood production to a plant with a long history in our community,” said Josh Renshaw, Peninsula Plywood president, in the statement.
“We’re confident that the resources and quality work force necessary for this plant are still present and locally available.”
Under Renshaw’s plan, the mill, which has operated under different owners since 1941, would revert to its original name of Peninsula Plywood, with the familiar acronym PenPly.
The most recent owner, Klukwan Inc. of Alaska, permanently laid off 132 employees in April 2008 after closing the mill in November 2007.
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Reporter Tom Callis can be reached at 360-417-3532 or at tom.callis@peninsuladailynews.com.
