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
Oregon’s Hampton Lumber Acquires Banks Lumber Mill
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Hampton Lumber has acquired the assets of the Banks Lumber Mill, just months after the Washington County mill had laid off its employees and ceased operations. Portland-based Hampton plans to upgrade…
Canfor Establishing U.S. Headquarters In Alabama
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Canadian wood products company Canfor is opening its U.S. headquarters in Mobile. The U.S. branch will operate under the name Canfor Southern Pine, said Fred Stimpson, Canfor Southern Pine president. The…
Canada, U.S. Far Apart On Softwood Lumber
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); With a fall deadline approaching, Canada’s chief negotiator in the softwood lumber talks with the United States says the two sides remain far apart on several key issues. Martin Moen told…
Weyerhaeuser To End Production At Montana Mills This Week
Seventy years of lumber production will come to an end this week when the Weyerhaeuser Company starts to shut down its lumber and plywood mills in Columbia Falls. Weyerhaeuser Montana Resources Team Leader Tom Ray…
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.