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
U.S. Lumber Coalition Files Petition Against Canadian Softwood Producers
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); The Canadian-U.S. softwood lumber dispute reignited Friday after the U.S. Lumber Coalition said it formally petitioned the American government to impose duties against Canadian softwood lumber producers. The lobby group said…
Oregon’s Rosboro Announces Its Sale, Starting With Timberlands
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Wood products manufacturer Rosboro, one of Springfield’s oldest employers, has sold its timber holdings, and the rest of the firm, including its large mill on Main Street in Springfield, could be…
Struggling Timber Industry Puts Rural Idaho At Crossroads
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); David Bartlett stopped frequently to chat with friends as he made inquiries with employers at a recent Idaho Department of Labor job fair in Orofino. The nonchalance of the former Tri-Pro…
New Sawmill To Open In Louisiana
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Le Moyen Mill & Timber LLC, a wholly owned subsidiary of Adobe Machinery Group, revealed plans to acquire land in order to develop a wood products manufacturing facility in LeMoyen, La.…
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.