Facing weak lumber prices, Fraser Papers Inc., in Toronto, yesterday said it will temporarily shut down its Ashland lumber mill, putting 70 people out of work.
The company will close the lumber mill in two to three weeks once its current workload is complete, Glen McMillan, Fraser Papers’ chief financial officer, told Mainebiz this morning. The mill is expected to remain closed for four months, depending on market conditions, according to a press release from the company.
A weak housing market in the United States and low lumber prices has led to “unsustainable operating losses” at the Ashland mill, the release said. The company’s sawmill in the Aroostook County town of Masardis will remain in operation.
