McAuliffe bids to buy Isle of Wight International Paper mill

[Blue_Tires]

Terry McAuliffe, an unsuccesssful candidate for governor in 2009, is in the running again -- this time, to buy a soon-to-close Southside paper factory he wants to convert to a wood-fired power plant.

McAuliffe and other investors are pitching to International Paper Co. to purchase the firm's giant Franklin mill in Isle of Wight County, which is to be closed this year, throwing 1,100 people of work.

McAuliffe and one of his partners, Peter O'Keefe, a longtime political associate, declined to discuss details of their offer to Memphis-based International Paper, citing confidentiality requirements.

McAuliffe said the proposal is not tied to a possible repeat bid for governor in 2013; that he is only doing as a private investor what he emphasized during his run for the Democratic nomination last June: focusing on creating so-called green jobs.

"I would be doing this, governor or no governor," McAuliffe said yesterday -- the eve of a visit to the plant this afternoon by Gov. Bob McDonnell, a Republican, and his top economic advisers. "There's no political implication."

International Paper, closing the Franklin mill because of the recession and overcapacity in the paper-making industry, is considering offers for the Virginia plant and others. Proposals are due Feb. 26.

"We are, indeed, very interested in acquiring the Franklin facility," O'Keefe said. "We think that we've got a very competitive offer."

http://www2.timesdispatch.com/rtd/news/state_regional/state_regional_govtpolitics/article/B-MILL09_20100208-214203/322990/