After 10 years, Simpson Paper decides to sell the Gilman Mill to American Paper Mills of Vermont, a new paper company owned by foreign investors. They files for bankruptcy in 2002 and mill workers shut down and mothballed the mill.
In 2003, the Gilman Complex was purchased by Dalton Hydro for the Hydro Electric Operation and later with the New Paper Operator.
In August of 2004, after a two year shutdown, Dirigo Paper Company restarts the paper machine with high hopes. On June 15, 2007 they suddenly sent all employee home claiming a temporary shutdown. The doors of the mill never again opened for paper production and 115 workers were laid off that day.
In 2008, the Gilman mill was purchased by Ampersand Energy Partners and Power House Systems and reopened as a hydroelectric power plant.