The paper mill was most profitable in the 1960s, with products being directly marketed to company-owned box plants. However, an extended period of down time (9-months) due to market conditions in 1996 signaled the beginning of the end for the mill. After nearly sixty years, St. Joe decided to get out of the paper business. The mill was sold in 1996 to Florida Coast Paper for $390 million, and was able to operate and produce paper until the decline of the container board market. The mill closed August 16, 1998, and did not reopen. The mill was gone by 2003.