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Posts Tagged ‘Lynn Tilton’

9th Annual Governor’s Advanced Manufacturing and High Technology Summit to Focus on “Growth Through Collaboration”

Tuesday, November 1st, 2011

“Growth Through Collaboration” is the theme of the Ninth Annual Governor’s Advanced Manufacturing and High Technology Summit to be held Wednesday, December 7th from 7:30 a.m. to 2:00 p.m. at the Center of New Hampshire Radisson Hotel in Manchester. 

Lynn Tilton, Chief Executive Officer and Principal of Patriarch Partners, LLC will speak on “How to Save American Manufacturing” at the 9th Annual New Hampshire Advanced Manufacturing and High Technology Summit on December 7th at the Center of New Hampshire Radisson Hotel in Manchester.

The annual event is presented by the New Hampshire Division of Economic Development, the Business and Industry Association of New Hampshire, the New Hampshire Manufacturing Extension Partnership and the New Hampshire High Technology Council and will bring together state and national leaders of business and industry who, in thought-provoking presentations and workshops, will focus on how New Hampshire’s high tech and manufacturing industries can stimulate growth through collaboration. 

“Manufacturing and high tech sectors continue to be very important to New Hampshire’s economy,” Gov. John Lynch said. “We have a successful economic strategy in place here in New Hampshire that has allowed us to be a national economic leader. That is why it is important we continue to work together to ensure we are making the right investments as a state to strengthen our economy for the future.” 

Speakers at the summit will include Lynn Tilton, Chief Executive Officer and Principal of Patriarch Partners, LLC; economist Dennis Delay of the New Hampshire Center for Public Policy Studies; and Roger Kilmer, Director of Manufacturing Extension Partnership (MEP), a program of the U.S. Department of Commerce National Institute of Standards and Technology. Tilton, whose company bought and reopened the former Fraser Papers paper mill in Gorham in May as Gorham Paper and Tissue, will speak on “How To Save American Manufacturing;” while “Smart Manufacturing/High Technology – NH’s Leading Economic Sector” will be the subject of Delay’s address. Kilmer, the keynote speaker at the summit luncheon, will address “Becoming a Next Generation Manufacturer.”

Three one-hour workshops will be offered concurrently and presented twice during the morning session by a panel of industry experts: “Supply Chain Development and Collaboration,” “Developing the Future Workforce in NH Advanced Manufacturing” and “Technology-Driven Market Intelligence.” 

Sponsors for the event include Citizens Bank, BAE Systems, Chapter #327/Southern New Hampshire of the Society of Manufacturing Engineers, New Hampshire Business Review, the New Hampshire Department of Education, Southern New Hampshire Chapter #253 of the Association for Operations Management, TradePort USA and the New Hampshire Machining Association.

Cost for the summit is $95 per person. For more information, contact Zenagui Brahim at 603-226-3200 or email zenaguib@nhmep.org To register online, go to http://www.nhbia.org/CWT/External/WCPages/WCEvents/EventDetail.aspx?EventID=92. Phone registrations should be directed to Christine Ducharme at the Business & Industry Association of New Hampshire at 224-5388, ext. 113.

Gov. Lynch Applauds Purchase of Gorham Paper Mill

Friday, May 13th, 2011

Gov. John Lynch today applauded the purchase of the former Fraser Paper mill in Gorham by Patriarch Partners. 

Patriarch Partners Founder and CEO Lynn Tilton

Patriarch Partners Founder and CEO Lynn Tilton

“This is a great day for Gorham and Berlin, the North Country and the entire State of New Hampshire. We did not give up hope, we did not quit and our hard work has paid off. I am extremely pleased that we were able work together to identify a buyer with a plan to keep the mill open. This mill is important to the North Country economy, and it’s important that we keep our workers employed,” Gov. Lynch said. “We all must recognize it is because of the workers – and their skills and strong work ethic – that made this agreement possible.” 

“Patriarch is company with a successful track record and commitment to manufacturing, and we are very pleased they are choosing to invest in the hard working men and women of the North Country,” Gov. Lynch said.  

“While this is a great day, it’s just a step toward what we all hope will be a successful transaction that leads to the reopening of the mill.  We cannot rest or celebrate until the paper machines are up and running and our people are back at work. I want to thank Department of Resources and Economic Development Commissioner George Bald and his team for continuing to work to find a buyer, and Patriarch for recognizing what assets this mill and these workers truly are,” Gov. Lynch said. 

In September, Fraser Papers announced it would be shutting down the mill indefinitely on Oct. 13, after a potential purchaser could not secure sufficient financing. Since that time, the State of New Hampshire has been working with Fraser, local officials and potential buyers to find a way to keep the facility operating as a paper mill. 

“I want to thank Governor Lynch and George Bald because without the state’s help, I am sure the mill would have been torn down by now. Governor Lynch has been instrumental in keeping the mill open and we can’t thank him enough,” said Spanky Lozier, president of United Steel Workers Local 75, the union representing the mill workers. “I want to thank Lynn Tilton (Patriarch CEO) for purchasing the mill and keeping it operating as a paper mill and Willis Blevins (mill manager) for working with the state to find a buyer. The rollercoaster ride is done. I am happy to see former Fraser workers will be working again, and I can’t wait to see smoke coming out of the stack and the machines up and running again.” 

Patriarch Partners is a global investment firm, which owns over 70 companies, and specializes in purchasing distressed businesses. Patriarch has been successful in purchasing failing mills, reopening them, and putting people back to work, including the Old Town Fuel & Fiber facility in Maine. 

“While there is a lot of work to be done to restore this business, and it will take time to rebuild a mill that had been shuttered and left to liquidation, we are confident that we have a plan to achieve long-term success,” said Lynn Tilton, founder and CEO of Patriarch. “Patriarch is committed to turning around distressed and dormant businesses with the dual goal of building portfolio value while sustaining and creating jobs in America. This acquisition presents an opportunity to achieve both goals as we rehire the mill’s workforce and make the necessary investments and operational changes to return the company to long-term profitability.” 

“We are very appreciative of Patriarch Partners for their commitment to the North Country and their efforts to put 240 citizens back to work,” said New Hampshire Department of Resources & Economic Development Commissioner George Bald. “With over 70 portfolio companies including many manufacturing firms, Lynn Tilton has an excellent track record and dedication to job creation. I also want to applaud Governor Lynch for his leadership in seeking a new buyer and the many state agencies that helped to make this deal a reality.”