Paper mill $ 50m sale
PACKAGING company Orora is selling its former carton board mill site in Queensland for $ 50.5 million. The Moreton Bay Regional Council will buy the Petrie mill, north of Brisbane, which closed in 2013. Orora, a spin- off from Amcor, will receive $ 20 million on the exchange of contracts, with the balance to be paid as decommissioning of the site progresses over the next two years. Sale profit is expected to be about $ 10 million.