CIRCLEVILLE, OHIO, May 31, 2013 . . . Green Investment Group, Inc., (GIGI) a privately held company focused on redeveloping brownfield sites throughout North America, today announced the sale of a 275-acre parcel of land at its location in Circleville, Ohio and the completion of environmental remediation at the site. Green Investment Group is an affiliate of M2Green Redevelopment, owners of the former Smurfit-Stone mill in Frenchtown.
The Ohio property is also a former Smurfit-Stone paper mill that closed in 1998, leaving 100 workers without jobs. Purchased by an affiliate of Green Investment Group, Inc. – CircleGreen, LLC. – in 2006, the Circleville site is one of seven mills the company owns throughout North America.
The 275-acre parcel that recently sold is located west of U.S. Route 23 and is a portion of the 303 acres at the site. The remaining acreage has been under environmental investigation and remediation through a voluntary program with the Ohio EPA. This month, CircleGreen, LLC, completed the requirements for the filing of a “no further action” letter finalizing their commitment to the Ohio EPA to responsibly remediate the site of environmental concerns. Approximately $3 million was invested in the site to remediate contaminated soil from a backfilled area formerly used as part of the Ohio Erie Canal.
Ray Stillwell, president of Green Investment Group, Inc. and manager of CircleGreen, LLC said, “We have worked in full cooperation with the Ohio EPA to dismantle and remediate the waste water lagoons that were under environmental investigation and are pleased to have repurposed a large portion of the site. We are actively marketing the remaining acreage in order to make this a completed redevelopment effort that faced environmental challenges but ultimately resulted in a better use of the property. The success at this site is an example of our commitment to responsibly remediating each of our sites and our continued efforts to create jobs and opportunities.”
Green Investment Group, Inc. and its affiliate companies acquire and redevelop Brownfield sites throughout North America. A Brownfield site is an abandoned or underutilized industrial or commercial site that is well positioned for redevelopment. Using a unique, modern business model that focuses on a phased approach to restoring, redeveloping and reviving inactive industrial sites, GIGI is able to bring investment, jobs and revitalization to local economies.
In addition to the Circleville and Frenchtown mills, GIGI has also purchased former Smurfit-Stone facilities in Alton, Ill., Carthage, Ind., Portage-du-Fort, Quebec, New Richmond, Quebec, and Bathurst, New Brunswick.
GIGI has seen recent successes at its site in Portage-du-Fort, Quebec where it has attracted companies in renewable energies to the site, including a construction recycling company and Trebio, a manufacturer of energy wood pellets to supply to the residential, commercial, industrial and institutional markets in Canada, the United States and Europe.
Similarly in New Richmond, Quebec, GIGI recently welcomed Fabrication Delta, which operates globally manufacturing large industrial parts for the wind, paper, mining, steel and forest industries. Fabrication Delta's primary focus will be to produce wind masts at its New Richmond facility. The company’s investment in New Richmond has been significant, resulting in hundreds of jobs.
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