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
Man Dies After Accident At Georgia’s Claude Howard Lumber
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); A Claude Howard Lumber Co. employee died after an apparent accident while working at the sawmill on Park Avenue, officials said. Salvador Hernandez, 32, of Statesboro, had crawled onto a piece…
Oregon BEST Looks To Create A New Timber Industry
Oregon BEST and Oregon State University are teaming with a Southern Oregon timber business in a bid to turn the state into a center for Cross-Laminated Timber Manufacturing. Oregon BEST is investing $150,000 into research…
North American Timber Harvests Up For Fourth Consecutive Year
Timber harvests in North America were up for the fourth consecutive year in 2013, reaching 510 million m3, based on analysis by WRI (Wood Resource International). Despite an annual increase of three percent each of…
U.S. Lumber Prices Soften In Seasonal Slowdown
U.S. lumber prices softened in mid-September on a seasonal lull in construction industry orders during another year in which hopes for strong gains in housing starts were disappointed, industry experts said. The framing lumber composite…
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.