Caraustar Closes Recycled Board Mill

Caraustar Industries Inc. closed its Chesapeake Paper Board recycled paperboard mill in Baltimore, Md.

Caraustar said it will incur an after-tax charge of about $3.9 million in the first quarter of 2000 to reflect the permanent shut down and dismantling of the Chesapeake mill. The company said it will continue to operate a recovered fiber processing plant located on the property.

The closing of the facility follows the decision of a number of other paperboard companies to close unprofitable facilities. The board mill had been a long-time facility in the Baltimore area, and had been a sizable consumer of a variety of lower grades of recovered fiber, including mixed paper.