SPORTS: LOCAL NEWS: Bosken resigns Memorial Day as Raider wrestling poppies available coach: Page 13 Saturday: Page 12 163rd Year • No. 23 24 paGes • 50¢ CLEVELAND, TN 37311 THE CITY WITH SPIRIT FRIDAY, MAY 26, 2017 Resolute looks Polk, Ducktown, to future in face Copperhill try of less demand to save hospital for newsprint from IRS, debt By BRIAN GRAVES
[email protected] The president of Resolute Forest Products said Thursday his company is secure in its investments Commissioners vote to buy for the future at the company’s Calhoun plant. Richard Garneau was in attendance as the com- the remainder of bank loan pany hosted its stockholders at the Museum Center at Five Points. By LARRY C. BOWERS the bank loan and facing The Calhoun location is one of the earliest
[email protected] default and foreclosure. newsprint mills in the South. Polk County Executive Hoyt Polk County and the city of In 2015, Resolute began con- Firestone and county attorney Ducktown are taking steps to struction of a $270 million state- Eric Brooks have been talking keep the Copper Basin of-the-art tissue machine and with bank officials concerning Hospital District afloat, at least converting operation in Calhoun the situation. To deflect fore- for the immediate future. to manufacture retail, premium closure proceedings, an option The hospital is wallowing in private-label tissue products. is to purchase the remainder of a quagmire of debt, especially “It’s probably going to take a the loan, becoming the lender on a $1.4 million bank loan year or two to bring production to of the hospital funds.