Soundview Vermont Holdings LLC, a division of Marcal Paper but known by the name of Putney Paper, has closed.
The paper mill, located in downtown Putney, Vermont and its converting plant, together employ 127 people. It is the end of an era started more than 200 years ago when the first paper mill was established in Putney.
Stephen Prentiss, labor and employment counsel for Marcal, which is based in New Jersey, confirmed that the Vermont plant would be closing.
In a press release issued on behalf of the company, Soundview Vermont President Rob Baron said the papermaking division of the mill will cease operation immediately but that the paper converting division will remain open until the end of the 2024 first fiscal quarter, and the end of March.
“Despite our best efforts to sustain operations at this historic paper mill, we had no choice but to shut down operations,” said Baron in a statement.
“The high cost of energy in the region has made it unaffordable to keep our doors open. Our top priority moving forward will be supporting our incredible employees and their families throughout this difficult transition.”
Soundview Vermont acquired Putney Paper Mill in 2012. Over the past decade, the company said it has invested tens of millions of dollars to strengthen the mill, but the rising energy costs are “insurmountable to sustain operations.”
