The decision affects 93 employees.
Bankruptcy
Restoration Forest Products Group has successfully emerged from Chapter 11 with a strengthened balance sheet and increased financial flexibility to generate significant economic value in the Northern Arizona region.
The management of Raubling Papier GmbH has now decided to enter into discussions with the local works council about a possible discontinuation of operations to develop socially responsible solutions for the 165 employees potentially affected.
Western Forest Products intends to offer voluntary severance to the remaining 60 APD employees.
JELD-WEN Holding expects to incur one-time costs of approximately $45 million and generate annual pre-tax income improvements of at least $11 million.
Canfor announces restructuring to position Alabama operations for the future.
The company has a six-month window to correct this and maintain its stock listing.
Long-standing company in Southern Oregon shuts down due to industry challenges.
Roseburg announced that it will permanently end operations at its Missoula, Montana, particleboard plant on May 22, 2024.
The Jagenberg Group will discontinue the business activities of Jagenberg Paper GmbH in Germany due to the persistently poor market situation in the paper industry.
The agreements should reduce company's debt by approximately $1 billion.
Huhtamaki is planning to consolidate the production footprint in China in the Fiber Foodservice Europe-Asia-Oceania segment and will close its production sites in Tianjin and Shanghai by the end of Q2 2024.
About 300 employees impacted were informed earlier today, and discussions have been set up throughout this week to offer new opportunities or outplacement support.
Maryland-based company might proceed with the bankruptcy filing by the end of this week.
Over the coming weeks, Cascades will work closely with the 310 impacted employees to mitigate, where possible, the effect of this announcement. Employees who cannot or do not wish to relocate to other plants will receive support in their search for other employment.
Restoration Forest Products Group has initiated a consensual prepackaged court-supervised process under Chapter 11 of the U.S. Bankruptcy Code, which it expects to complete as expeditiously as possible. Upon completion, Invesco Senior Secured Management, Inc. will become the new majority owner of RFOR in partnership wi...
The closure is expected to impact 55 employees and Sonoco will offer severance benefits to the impacted employees.
Production of paper ended in December 2023. The closure of the site should be completed during the second calendar quarter of 2024.