Gov. Cooper to Pactiv Evergreen: Mill closure would be 'clear breach' of $12M agreement

by David Plunkett

Thu, March 16th 2023 at 3:30 PM

Updated Fri, March 17th 2023 at 8:42 PM

FILE - North Carolina Governor Roy Cooper. MARCH 16, 2023 - Gov. Roy Cooper on Thursday, March 16, 2023, sent a letter to Pactiv Evergreen CEO Mike King saying the closure of the company's Canton mill would be a "clear breach" of the $12 million economic development agreement with the Department of Commerce unless the company pays back the funds it received from 2015-2021, keeps the mill open or finds a buyer. (Photo credit: WLOS staff)

ASHEVILLE, N.C. (WLOS) — Governor Roy Cooper on Thursday, March 16, sent a letter to the CEO of Pactiv Evergreen about the return of state economic incentives given to the Canton mill.

The letter urges the CEO to explore all options to keep the mill open -- or find a buyer.

CANTON PLANT CLOSURE IS PART OF A RESTRUCTURING PLAN, PACTIV EVERGREEN SAYS

Cooper said in the letter that closing the plant would be a "clear breach" of a $12 million economic development agreement with the Department of Commerce.

That breach would require full repayment of that money that was paid to Pactiv Evergreen from 2015-2021.

PACTIV EVERGREEN PLANT MANAGEMENT SOLD STOCK JUST BEFORE MILL CLOSURE NEWS, FILINGS SHOW

To read Gov. Cooper's full letter to Pactiv Evergreen CEO Mike King, see below:

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