| Grays Harbor Paper to Close Facility at Hoquiam, Washington |
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Hoquiam, Washington, USA, 26 May 2011 -- Grays Harbor Paper, LLC, announced today the permanent shutdown of its facility at Hoquiam, Washington, effective immediately.
Patrick Quigg, president of Grays Harbor Paper, explained that the continued high price of raw materials, lower than expected sales of high-value products, and accompanying cash flow considerations are the major factors contributing to the decision to shutdown. In addition, a recent major refinancing effort undertaken by the company did not materialize.
For the past 18 years, Grays Harbor Paper has found innovative ways to make quality products and grow market share in a difficult business environment, while remaining cost competitive. “I want to acknowledge the continued support of the stakeholders in our community and the industry, especially our loyal employees, without whom we would not have made it this far,” said Quigg.
Grays Harbor Paper is a manufacturer of uncoated copy and printing papers, currently employing 240 people. All of the employees will be affected by the shutdown, with the exception of a small support crew to maintain the facilities and sell all remaining inventory. As for the company’s physical assets and equipment, Quigg indicated all options would be considered, including the potential sale of the entire plant to a business that would be capable of restarting operations.
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