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West Point paper mill files for bankruptcy

One of the area’s largest employers, Smurfit-Stone Container Corp., has filed for Chapter 11 bankruptcy protection, according to published reports.

Chicago-based Smurfit-Stone operates the paper mill in West Point that employs 520 workers, including many Middlesex County residents.

In Virginia, Smurfit-Stone also operates a mill in Hopewell, and two plants in Richmond and one in Martinsville.

Under Chapter 11 protection, the company hopes to restructure its $3.5 billion debt (as of Sept. 30, 2008).

The containerboard plant at West Point continues to operate as usual without interruption, according to company officials.

posted 02.04.2009

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