Top 10 stories of 2012
MANISTIQUE – After a brief closure and filing Chapter 11 bankruptcy in 2011, the former Manistique Papers, Inc. was purchased in April of this year. The nearly 100-year-old paper mill was purchased by the Watermill Group, a Boston-area private investment firm.
In November 2009, Watermill purchased the FutureMark Paper Company in Alsip, Ill., which was touted by the company as being the leading recycled coated paper producer in North America. In the months following the sale of MPI, the group changed the mill’s name to FutureMark – Manistique, a sister company to the mill in Illinois.
In August, Gov. Rick Snyder visited the mill, welcomed by Executive Vice President and mill General Manager Jon Johnson. During the governor’s visit, Johnson indicated that, following the mill’s declaration of bankruptcy, nearly 150 jobs had been saved by the actions swift action of players like the governor and mBank, along with the mill’s employees, suppliers and current owner, the Watermill Group.