Breaking: Shut Down at Bowater Mersey Extended

A shutdown at Bowater Mersey's Paper Mill in Brooklyn has been extended another week. The paper making machines at the mill have been off since Christmas and employees were expected to resume work on Monday. However, Bowater's CEO Brad Pelley says the company has decided to extend their downtime another week because of poor market conditions in Europe. Pelley says operations at the mill will now resume on January 16th. "Selling paper in Europe right now is not a particularly attractive place to sell. Producer who have traditionally sold a lot of volume in Europe are now looking to other markets. There is also over supply issues in both Asia and Latin America as well...those are markets we traditionally serve and prices are being depressed as a result," The company understands the economic uncertainty in Europe won't improve in a week. However, he says by pulling some volume out of the market it may increase the demand for paper products.