Soundview Vermont Holdings LLC, a division of Marcal Paper but known by its historical and well-known name of Putney Paper, is closing.
The paper mill, located in downtown Putney, and its converting plant, which is located on Kathan Meadow Road, together employ 127 people. It is the end of an era started more than 200 years ago when the first paper mill was established in Putney.
Stephen Prentiss, labor and employment counsel for Marcal, which is based in New Jersey, confirmed Tuesday morning that the Vermont plant would be closing.
In a later press release issued on behalf of the company, Soundview Vermont President Rob Baron said the papermaking division of the mill will cease operation immediately but that the paper converting division will remain open until the end of the 2024 first fiscal quarter, or the end of March. The company said 46 employees will remain at the converting plant until March 31.
"Despite our best efforts to sustain operations at this historic paper mill, we had no choice but to shut down operations," said Baron in a prepared statement.
"The high cost of energy in the region has made it unaffordable to keep our doors open. Our top priority moving forward will be supporting our incredible employees and their families throughout this difficult transition."
Soundview Vermont acquired Putney Paper Mill in 2012. Over the past decade, the company said it has invested tens of millions of dollars to strengthen the mill, but the rising energy costs are "too insurmountable to sustain operations."
TAPPI
http://www.tappi.org/