FutureMark Alsip paper mill announces indefinite closure

CHICAGO (Scrap Monster): The doors of FutureMark Alsip paper mill located in Alsip, Illinois have closed. According to sources, the challenging market conditions have forced the company to announce permanent closure of the paper mill facility. However, the recycled-content paper mill in Manistique, Michigan, will continue to operate.

According to Stephen Silver, CEO, the demand for recycled-content printing and writing paper has fallen drastically due to abundant availability of lower-quality uncoated substitutes. The prices of coated mechanical paper have declined steadily over the past months. The pricing pressure due to huge increase in energy costs has made the business unprofitable, added Stephen Silver.

The company had explored several options to avoid the shutdown of the plant. The company had sought debt from government and had tried locating new investments. It also had failed to find fresh buyers for the mill. The company press release states that it will do all the needful to fulfill pending orders and arrange for the smooth transition to new suppliers. A closure team will remain on site until the shutdown formalities are completed.

FutureMark Paper Group is the leading North American provider of responsibly made recycled paper for books and magazines, as well as for commercial printing and packaging applications. Located in Alsip, Illinois, FutureMark Alsip specialized exclusively in recycled coated paper. The company was the only mill in all of North America making coated publication paper predominantly from recycled materials.