*Operating profit for January–March was SEK 653 million (January–March 2017: SEK 627 million). Operating profit includes a forest property sale of SEK 70 million. Prices for paper and wood products increased, wheras costs for wood and other input goods rose. *Compared with the fourth quarter of 2017, profit was SEK 232 million higher, mainly as a result of income from the forest property sale and due to that fourth-quarter earnings were affected by a maintenance shutdown. *Profit after tax for January–March amounted to SEK 507 million (485), which corresponds to earnings per share of SEK 6.0 (5.8). Click Read More below for additional information.
Georgia-Pacific announced Thursday morning that they will leave the paper business, effectively laying off more than 600 workers at its plant in Port Hudson.
A spokesperson for Georgia-Pacific, Kelly Fergison, said the company will permanently shut down all paper machines, as well as its wood yard and pulp mill.
Employees are told they will stay on through March, at which point they will cease production.
They said they are not completely shutting down the facility. Roughly 300 employees will stay on as part of its consumer tissue and towel business.
Georgia-Pacific said this is not due to poor performance in Port Hudson, instead citing a declining market.
In a statement, Georgia-Pacific president Mike Adams said, “We will be working closely with our printing and writing customers during this time of transition.”