Bonnie Neely made the original motion to have the BOS endorse Freshwater Pulp's business concept and will send forth support letters to public agencies and political legislators to move forward with permits and loans necessary to make this deal happen. Freshwater President Bob Simpson flagged many concerns, applauds and questions by the Supes. The BOS voted unanimously for the motion. Even PLAZOID Tad spoke in favor of the presentation.
What a weekend meeting with Congressman Mike Thompson that must of been! EPIC, Baykeepers, The Sierra Club, Labor leaders and the National AWPPW Vice President Greg Pallesen all together Saturday moving in the same direction and coming to a consensus! (Sounds like the AWPPW is going to help on the political and financial prep side. Might even venture into ESOP. Hmm. Where have I heard of that process?)
This is kind of stunning that there was so much collaboration of this magnitude. Of course, much of this vision is predicated on a Government backed loan. There was also a mention of a possible "Green" Initial Public Offering (IPO), where the company would raise money selling common stock.
So the plan is to start the mill as a Totally Chlorine Free (TCF) pulp and toilet paper facility with a main distribution center for the environmentally safe toilet tissue products. 450 local "union" jobs paying an average of $70,000 (Mr. Simpson's estimate) a year. And thousands indirectly created locally. Mr. Simpson sees this as finishing his vision that he had when he converted the plant over to TCF when he was the Western Division GM for Louisiana Pacific. And doing all this using good Forestry practices, using only chips made from Forest Stewardship Council (FSC) approved (Certified) logging practices.
Freshwater Pulp's vision is to be a regional producer of essential products for eco-minded consumers.
Freshwater Pulp's mission is to manufacture dioxin-free tissue products made from FSC certified wood fiber from the coastal redwood forest.
The mill is worth around 3.5 in scrap metal.
The mill has a $600,000,000 replacement value.
Freshwater Pulp projects $360,000,000 in annual sales.
Freshwater plans to pay $36,000,000 in Marketing and Advertising.
When a log hits the sawmill, 50% of the log becomes Lumber 35% pulpable chips. The rest waste wood to be used as Flakeboard or biofuel.
There was much more discussion that I may have missed. This is just a skimmed version of my notes. It might be too late for this worker to be a part of this, but I hope for my younger co-workers that this process is put on the fast track!
Dino Cardelli hearing continued and public defender appointed as counsel - Review hearing scheduled for Sept 5 in Courtroom 8.
2 minutes ago