StemWood Corp to close 100-years old New Albany lumber mill

FORT WAYNE (Scrap Monster): The New Albany, Indiana -based hardwood face veneer and lumber manufacturer StemWood Corp. has decided to wind up operations at its 108-year old New Albany lumber mill. The mill that has been in operation since 1905 will close in the next one to two months.

The shift in furniture manufacturing from America to cheaper Asian markets and the continued recession in new housing in the US have made the business unprofitable, said David Wunderlin, President and Co-Owner of the company. The company had adopted various streamlining measures and downsizing operations at the facility in 2014, which helped them to survive. However, plummeting lumber prices and escalating operating costs have pushed the company to a situation where operations could not be carried out any longer.

The mill employs 25 people. StemWood Corp. has assured to provide every possible help to employees to find new positions. The company has offered job counseling, interview preparation, resume assistance services to laid-off workers. The company plans to collaborate with WorkOne Southern Indiana and other employment agencies in the region. The workers will also be paid retention benefits in full.

The StemWood Corp. mill located in 2710 Grant Line Road New Albany had produced lumber and veneer for markets worldwide.