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
Trump’s ‘Get Tough’ Trade Plan Could Benefit Maine Lumber Industry
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Maine sawmills and timber harvesters could benefit if President-elect Donald Trump goes through with a draft plan to aggressively renegotiate trade terms for competing softwood lumber imported from Canada. A Trump…
U.S. Export Duties On Canadian Lumber To Cause Market Chaos, Soaring Prices
In WOOD MARKETS’ new five-year Softwood Lumber Chapter forecast, U.S. duties on Canadian lumber exports to the U.S. are expected to cause short-term chaos after they are announced in early Q2/2017. This new development alone…
Freres Lumber Unveils MPP, Adding Plant In 2017
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Capitalizing on the current interest in building large-scale wooden buildings and more multi-story wooden structures, longtime Oregon plywood and veneer producer Freres Lumber has introduced the “Mass Plywood Panel” (MPP), a…
Montana’s Sawmills Ponder Future Of Timber Industry
From the gateway on Half Moon Road, F.H. Stoltze Land and Lumber looks a lot like it did in 1923. About 200 truckloads of logs roll through every week. They get dumped in muddy yards,…
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.