BMI Group acquires Espanola pulp and paper mill
Industrial development company BMI Group has formed Bioveld North Inc. This subsidiary has signed an Asset Purchase Agreement with Domtar to acquire the former Espanola pulp and paper mill in Ontario. The closing of the sale is subject to customary regulatory approvals. Until then, Domtar will reportedly retain ownership of the assets.
The acquisition, which establishes a northern counterpart to BMI’s Bioveld Niagara hub in Thorold, marks a new chapter for the industrial site while expanding BMI’s network of industrial multimodal sites across Ontario and Quebec — from Iroquois Falls to Niagara and east to Baie-Comeau on the Atlantic.
The comprehensive agreement includes a 16MW hydropower plant and dam that currently supplies Ontario’s power grid. BMI Group says it will invest in these energy assets to ensure their long-term viability and continued contribution to the region’s sustainable energy resources.
BMI says it specializes in “ready-stating and re-futuring,” a process that has remobilized idle industrial properties across Ontario, Quebec and Michigan by retooling infrastructure for new uses.
“We look forward to working closely with the Town of Espanola, neighbouring Anishinabek communities, as well as Federal and Provincial governments to realize the competitive advantages of this remarkable region,” said Paul Veldman, CEO of BMI Group.
The mill, which was indefinitely idled in 2023, employed 450 workers, 32 of whom continue to manage and maintain the site.
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