Red Shield Environmental LLC of Old Town filed for Chapter 11 bankruptcy protect

Source

Mainebiz

Date

7-28-2008

Pages

1, 6

Abstract

Red Shield Environmental LLC of Old Town filed for Chapter 11 bankruptcy protection in June after the price of wood chips, the mill's primary raw material, doubled. The company planned to modernize an old mill to refine renewable biofuel. Chairman and CEO Edward Paslawski says the debt is just a fraction of the company's valuation and he is confident the plant will reopen.

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