FRANKFORT, Ky. (AP) — A Chinese company says it will buy a shuttered western Kentucky paper mill and reopen it by the end of this year.
Global Win Wickliffe LLC signed a purchase agreement Thursday for the former Verso Corp. mill in Ballard County. Republican Gov. Matt Bevin’s office said in a news release that the company plans to invest $150 million and hire 500 people.
Company officials say they plan to produce pulp and brown paper packaging at the site.
The announcement comes days after Bevin met with Chinese Ambassador Cui Tiankai (su-wee’ tee-ahn-khi). Bevin said only seven Chinese companies have facilities in Kentucky. Bevin said he hopes to increase that to 200 companies over the next two decades.