Advertisement

1st Urban Fiber rehires 15

August 21, 1997

Fifteen full-time employees have been rehired at 1st Urban Fiber's paper recycling facility, according to the financial advisor for the $250 million facility's bondholders.

A few more employees may be rehired in the future, said J.T. Atkins, managing director for Oppenheimer & Co. in New York.

Those employees will maintain the plant's equipment until it becomes operational again, Atkins said.

The plant at the corner of Eastern and Memorial boulevards was closed and 53 employees fired on Aug. 7 when the bondholders took control from 1st Urban Fiber Operations.

Company officials shut the plant in April and laid off 40 employees indefinitely because the price for recycled pulp had plummeted since last fall when the plant opened. They had hoped to reopen in early 1998.

Advertisement

The plant produced dried pulp from waste paper that was used to make colored paper, fine writing paper and other products.

The Herald-Mail Articles
|
|
|