Cosmopolis, WA – Cosmo Specialty Fibers will be shutting down temporarily due to economic events caused by COVID-19.
In a release from Cosmo Specialty Fibers Chief Executive Officer Nicholas Dottino, he says that they will commence an orderly shutdown Friday morning May 1 and complete the curtailment of operations by Friday May 8.
They expect this temporary outage to last approximately 90 days.
During this outage they will continue to satisfy strategic customer demand for their products through existing inventory.
The release states that were it not for the worldwide economic downturn caused by the coronavirus, Cosmo Specialty Fibers was steadfast on exceeding the record breaking performance of calendar year 2019.
But they say that due to the unprecedented economic events across the world, and here in the State of Washington caused by COVID-19, they have made a preemptive decision to temporarily suspend operations of the mill.
The Company will continue to employ limited personnel to safeguard the mill, ensure the safety of the community, maintain full regulatory compliance, and structure an orderly plan for a successful startup immediately upon market recovery.
In the meantime, their Leadership Team will continue to work closely with both Federal and State authorities in an effort to reopen the mill as soon as possible, once an appropriate level of safety and economic stability has been achieved.
The full release can be found below.