LUKE, Md. (WJZ) — A paper mill in Western Maryland is shutting its doors leaving hundreds without jobs.
Verso announced Tuesday it would close its paper mill in the town of Luke in Allegany County after a decline in the demand for “grades of coated freesheet paper produced at the mill, along with rising input costs, a significant influx of imports, and rising compliance costs and infrastructure challenges associated with recent environmental regulation changes.”
The mill will close on June 30. It will reduce the company’s coated freesheet production capacity by 450,000 tons and its total annual production of the paper by 2.7 million tons.
“It is unfortunate that we had to make the decision to close the Luke Mill, but the continuing decline in demand for the grades of paper manufactured there left us no choice but to close this facility that has struggled with profitability for a number of years,” said Verso Interim Chief Executive Officer Leslie T. Lederer.
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8 comments:
Perdue laid off a couple of hundred of their office staff, but you didn't really hear about it now did you?
What's up with Purdue?
Something more to Verso not being reported
Just read an article where paper mills are now for 2019 able to ask higher prices for coated freesheet paper.
This is a crushing blow for western Maryland.
The only industry left in that area is heroin and meth.
keep voting in democrats they chase all the factories and jobs away
Hogan said Maryland is open for business.
HAHAHA. Pos Hogan wants to run for president?? GTFOH.
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