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
Minnesota Office Building Made Of Wood Would Be A U.S. First
Last November, the Hines development company unveiled plans for a new office building in the North Loop section of Minneapolis. Seems like ordinary news, except that the building would be the first of its kind…
Interfor Completes Acquisition Of Simpson Lumber Sawmills
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Interfor Corporation (IFP) announced today it has completed the acquisition of four sawmills from Simpson Lumber Company, LLC, increasing its annual lumber production capacity by 30 percent to 3.1 billion board…
Shrinking Timber Supply Sends B.C. Companies On U.S. Mill Buying Spree
At first blush, year-end financials and stock prices for B.C.’s largest forest companies would suggest the province’s forestry sector is well on the road to recovery after a decade-long slump. Interfor Corp., for example, posted…
Northwest Hardwoods Completes Acquisition Of Industrial Timber & Lumber
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Northwest Hardwoods Inc. (NWH) has recently completed the acquisition of Industrial Timber & Lumber Company (ITL) based in Beachwood, Ohio. NWH is headquartered in Tacoma, WA and has operations in the…
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.