December 1, 2008
Red Shield rehire reversed
By The Mainebiz News Staff
The 180 former employees of the Red Shield pulp and paper mill who were told they would have jobs again will instead be laid off.
Dan Bird, human resources manager at the Red Shield Acquisition LLC mill in Old Town, told the Associated Press he was in the process of rehiring the workers, but drastic drops in the pulp market have halted that effort. New York investment group Patriarch Partners purchased Red Shield in September, after Red Shield filed Chapter 11 bankruptcy.
The mill had rehired about 110 of its 180 workers, but will now lay most of them off. Despite the latest, Lynn Tilton, founder and CEO of Patriarch Partners, remains optimistic that her plan to diversify the mill's offerings will soon turn it around, according to the AP.
Mainebiz web partners
Most Recent
Most Recent
Comments