Economic slowdown impacts Libby
by Duane Williams, KLCB 1230 AM Libby News Radio
December 12, 2008
Amidst all the dismal economic and financial some that hits home.
The Stimson finger jointer plant will join the fate of its big-brother Libby Stimson lumber mill. The finger jointer will not reopen from a shutdown that started over the summer. It is the last of Stimson's processing operations in Montana, Stimson having recently shuttered its lumber mill at Bonner, outside Missoula earlier this year.
The closure idles about thirty Libby residents.
And there is talk that Revett Minerals, operators of the Troy mine, is giving thoughts to curtailing operations due to current metal prices. Almost 200 employees at the company's Troy copper and silver mine have, reportedly, taken a 10 percent wage cut, management a 20 percent salary reduction, in an effort to reduce operating costs at the mine.
Semitool Inc. said Tuesday it would shut down for three weeks and cut back to a skeleton production crew because of lagging customer orders.
Tuesday's announcement comes about a month after Semitool laid off 100 workers in its Kalispell and Libby production operations.
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Story by Duane Williams, KLCB 1230 AM Libby News Radio, www.todaysbestcountryonline.
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