TimberHP Expects Long-Term Success
TimberHP, a Maine-based manufacturer of wood fiber insulation, announced that it has filed a voluntary, pre-negotiated Chapter 11 plan of reorganization in the U.S. Bankruptcy Court for the District of Delaware. The plan, according to the company, with the support of its stakeholders, will significantly strengthen the company’s balance sheet and position it for long-term success.
The company states that during the court-supervised reorganization process, business will continue as usual and without interruption, including the production and sales of its two, well received, existing product lines, TimberBatt and TimberFill.
“TimberHP is grateful to its sales partners, vendors, employee partners, and bondholders for standing by the company through this challenging, but necessary process,” comments TimberHP CEO Matthew O’Malia. “TimberHP has an incredible product line, and we are pleased to have the support and capital required to execute our business plan and address the growing demand for sustainable insulation materials in the U.S. construction industry.
The company expects to expedite the Chapter 11 process and emerge from bankruptcy within the coming months to a strengthened financial position and access to growth capital to complete construction of the manufacturing line for its third product, TimberBoard.
Latest News
After A Period Of Quiet Time, Canadian Buyout Of SYP Mills Resumes
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); West Fraser Timber Co. Ltd. has entered into an agreement to acquire the operations of the Gilman Companies from the Howard Gilman Foundation and other shareholders for approximately US$430 million. The…
U.S. Senators Urge Quotas On Canadian Lumber
Seven members of the Senate Finance Committee on Tuesday called the Trump administration to set quotas on Canadian softwood lumber and closely consult with Congress during negotiations of a final agreement. Senate Finance Committee ranking…
Washington’s Northwest Hardwoods Marks 50 Years
Arnold Curtis established Northwest Hardwoods (NWH) in 1967 by creating a single alder mill in Arlington, Washington. With his vision, he set out to transform the under-appreciated alder tree into the high quality lumber product…
Multi-Million Dollar Alabama Sawmill Project Right On Schedule
A multi-million dollar sawmill project in Demopolis continues to make progress. The new state-of-the-art sawmill is expected to bring more than new fifty jobs to the area. Demopolis Mayor John Laney says the Two Rivers…
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.