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Verso announces buyer for closed Minn. paper mill

SARTELL, Minn. (AP) — Verso Paper Corp. has announced plans to sell its fire-damaged paper mill in Sartell.

Verso said Tuesday it is selling the mill to AIM Development (USA) LLC. Terms were not disclosed.

The St. Cloud Times reports the deal was announced in a two-paragraph email. According to the email, the transaction is expected to close in the first quarter.

Verso said in the statement it is not commenting on the deal.

An explosion and fire at the mill killed one worker and injured four last Memorial Day. Verso announced in August it would not reopen the mill. Nearly 260 people worked at the plant.

Copyright 2013 The Associated Press.