Lincoln Paper and Tissue LLC filed for Chapter 11 bankruptcy protection on Monday, estimating it has between $10 million and $50 million in both debts and assets. Company co-owner Keith Van Scotter said he expects the mill will be auctioned in 45 days, with a stalking horse bidder setting the price to beat. He said he did not know whether the potential buyers would operate or scrap the mill, the town’s second-largest taxpayer and third-largest employer. “I’m disappointed that we had to take this route,” Van Scotter said. “We just did not have enough runway to finish the process that started with all the issues that came up with” a smelt water explosion in a chemical recovery boiler in November 2013.
Clarendon OSB became a part of GP’s Building Products division in 2010 when GP acquired the mill from Grand Forest Products. The mill then underwent a $30 million construction project to complete the building of the facility and started up production in 2013.
Five years later, Clarendon OSB will soon be looking at a brand‐new 30,000‐square foot warehouse, a new state‐of‐the‐art laminating line and the installation of additional equipment.
The $4.5 million investment driving this operational expansion is one of many investments made at Clarendon OSB in the past 12 months. Over $6 million in capital has been invested at the location just this year.
These investments are intended to fulfil the company’s growing customer base, support a future 24/7 run schedule and accommodate future automatic guided vehicles. “This investment allows the Clarendon OSB Plant to enter into an automated, digital operating platform which opens the door for more investments in technology,” said Tobey Elgin, plant manager Clarendon OSB.
“This investment allows the Clarendon OSB Plant to enter into an automated, digital operating platform which opens the door for more investments in technology,” said Tobey Elgin, plant manager for Clarendon OSB.
Improvement in capacity and product capability, additional product storage and the ability to make specialty OSB board are just some of the additional results that will come from this investment.
more detail at: https://www.gp.com/news/2018/11/clarendon-osb-georgia-pacific