Domtar idles 2 mills, sets off employees (NYSE:UFS)

Domtar (UFS +4.5percent ) says it’ll temporarily disrupt the operations of its Kingsport, Tennessee mill along with also the A62 paper system in its Ashdown, Arkansas mill for 3 weeks in reaction to this unforeseeable business requirements driven from the COVID-19 pandemic.

The provider anticipates the temporary shutdown to decrease its own uncoated freesheet paper manufacturing capability by ~144K brief tons over the 3 months. period. Because of this, Domtar will put off roughly 304 workers at its Kingsport mill and 142 workers at its Ashdown mill.

“The COVID-19 outbreak has a negative effect on communicating paper need, together with offices, schools and businesses closed in a big portion of our markets,” notes Domtar CEO John Williams.

Source: Press Release

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