CANTON, N.C. (828newsNOW) —

There’s new hope of a future for the abandoned paper mill site in Canton.

For decades, smokestacks dominated the skyline in the town of about 4,400 residents. But that changed when Pactiv Evergreen closed its paper mill in June 2023, eliminating about 1,000 jobs.

The town stood strong, its residents, businesses and leaders vowing to push on and bounce back.

Wednesday brought news of more change to the former mill site, news that might offer a glimmer of what could be.

Spirtas Worldwide has signed a letter of intent to purchase the Pactiv Evergreen property.

For decades, smokestacks dominated the skyline in Canton, N.C. But that changed when Pactiv Evergreen closed its paper mill in June 2023, eliminating about 1,000 jobs.

Downtown Canton, N.C., has persisted despite the closure of the long-standing paper mill in mid-2023.

For decades, smokestacks dominated the skyline in Canton, N.C. But that changed when Pactiv Evergreen closed its paper mill in June 2023, eliminating about 1,000 jobs.

Downtown Canton, N.C., has persisted despite the closure of the long-standing paper mill in mid-2023.

“We found out about 2:30 yesterday afternoon (Wednesday),” Canton Mayor Zeb Smathers said of the possible sale.

Smathers said he knew there were potential buyers interested in the property, but town officials weren’t privy to Pactiv Evergreen’s plans.

“It’s not a done deal, but there’s a high likelihood Spirtas will be the owners of the mill,” Smathers said. “I think that could happen in a small amount of time.”

The Spirtas Worldwide website said the company specializes in demolition, remediation and asset purchases.

“The best way I can describe Spirtas as a company is as a demolition and redevelopment company,” Smathers said.

The mayor said he doesn’t know what Spirtas has planned for the site.

“I had a good conversation with Eric Spirtas (company president) yesterday. He understands the company needs to respect the citizens not only here now but who were here in the past and are coming here in the future. I think that respect has been missing the last few years. Our history is important, and he knows that. He promised me they would do right by our town,” Smathers said.

Spirtas confirmed via email the company had signed an exclusive letter of intent to purchase Pactiv Evergreen’s site in Canton.

“Spirtas has extensive experience in industrial redevelopment and environmental cleanup with manufacturing plants and industrial facilities, including multiple former paper mills. We are committed to operating safely and responsibly and recognize the site’s importance to the local community. We’ve already met with Canton officials and look forward to a smooth transition as we invest to support the region’s economic development goals,” Spirtas said via email.

The sale is pending due diligence and final negotiations.

A sale price has not been released.

Attempts to reach Pactiv Evergreen officials for comment have been unsuccessful.