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Latitude and Longitude: 46.00°N, 67.24°W.
The area was first settled in 1784 by United Empire Loyalists, primarily through land grants to the families of soldiers who had fought with His Majesty's Regiment of Queen's Rangers during the American Revolutionary War.
It was previouslyly known as the town of Otis. The town became known by its present title in 1976, shortly after the completion of the Mactaquac Dam .
Nackawic is home to the world's largest axe.
The sudden closure has led David Palmer, manager of the York-Sunbury-Charlotte Forest Products Marketing Board, to level accusations of sabotage, as the mill was almost entirely disassembled during the repairs.
The owners, Parsons and Whittemore of Rye Brook, New York, have relinquished title to the plant and equipment in an effort to attract potential buyers. Both Irving Oil and the New Brunswick provincial government have stated that they are "not interested" in buying.
George Landegger , chairman and CEO of Parsons and Whittemore, is said to be responsible for ordering the shutdown. The company, which owes $101.2 million to its creditors, including $50.2million to unsecured creditors, has declared bankruptancy.
Some workers have agreed to work without pay in order to make the mill more attractive to potential buyers. Other workers have proposed buying the mill and running it themselves.