SMART Papers' investment in plant 'great news' for city
COMMENT: What do you think of SMART's new plant?
RELATED: SMART building $30M plant to cut future C02 emissions
Tuesday, May 13, 2008
HAMILTON — The announcement that SMART Papers plans to invest $30 million at its Hamilton plant comes fewer than three years after it declared bankruptcy.
Just a few years ago, the manufacturer headquartered on B Street was at the forefront of city thinking as city employees and elected officials explored various ways to save the company and its hundreds of jobs.
Extras
SMART spent most of 2006 trying to settle about $40 million worth of debt after it filed for bankruptcy early in that year.
An investment firm eventually came to the rescue and settled the debt, which sparked improvements in the company. SMART Papers was financially solvent enough to put in $500,000 worth of upgrades to its facility in January 2007.
As the bankruptcy issue was resolved, the company took other steps forward. In May 2007, the company expanded its paper offerings. In August 2007, it sponsored an Indy Pro Series race car at an unspecified cost as a means of raising its national profile.
"It's just encouraging that a major manufacturer is making a major (investment) in the community," said Kenny Craig, president of the Greater Hamilton Chamber of Commerce.
Others contacted Monday, May 12, also were encouraged by SMART Papers' announcement.
"I think it's great news," said Butler County Director Economic Development Brian Coughlin. "It does look like they're investing for the long haul."
Craig said SMART Papers' announcement is proof that manufacturing still has a place in helping boost the economy. Other manufacturers have started up in the city this year, but SMART's announcement presents a more visible reassurance, he said.
"Unlike many people say, manufacturing is not dead or dying," Craig said.
Comments
By Sailor
May 13, 2008 7:13 PM | Link to this
Yes this sounds fine but I heard the exact same words from the officials at Sorg Paper Company in 1999 Located in Middletown and look where they went. Closed in May of 2000. All I can say is Do Not Belive the Corporate Officials until it happens
By Cable Guy
May 13, 2008 3:53 PM | Link to this
To Paula Williams: I have to agree with John Doe regarding your lack of punctuation, etc. Should you post future comments, please have someone with at least half-a-brain proof and correct your product. Illiterate hillbillies have no credibility, so please keep your ignorant comments to yourself. Oh, Have a Nice Day!
By John Doe
May 13, 2008 2:00 PM | Link to this
Paula: PUNCTUATION, PUNCTUATION, PUNCTUATION
By Eric
May 13, 2008 1:15 PM | Link to this
Cease to emit CO2? Not really. They are just getting credit for not burning regular fuel sources. Environmental responsibility? They care about making money and avoiding taxes. This environmental emergency gimmick is getting old. Energy is expensive, and it only makes sense to conserve where practical to cut costs. Carbon footprint? I don’t care.
By from a family or Champion paper workers
May 13, 2008 12:25 PM | Link to this
Champion Papers has always been a part of my family. My Grandfather My father and my Uncles retired and made a living working there. It was a shame what happen when Smart Paper took over But they did what had to be done at the time at least they are staying and keeping the plant going. Securing the jobs for the people left and for Hamilton.
By Paper person
May 13, 2008 11:01 AM | Link to this
Nice that Smart Papers is thinking “green” and about the future. Sure would be nice if their employees could se some “green” in their wallets and think about their own futures. Does anybody realize how long their employees have worked without raises? Oh, I am sure their VP’s have had nice raises but what about the other 545 people who works there?
By Paula Williams
May 13, 2008 10:32 AM | Link to this
WELL THATS GOOD BUT WHAT ABOUT THE EMPLOYEES RAISES AND BETTER BENFITS AND IT MAY MAKE THE CITY HAPPY THE ONLY REASON THEY ARE HAPPY IS IT PUTS MONEY IN THERE POCKETS NOT THE EMPLOYEES.
ALSO ITS PRETTY GOOD FOR A COMPANY THAT IS BANKRUPT WHERE IS THE MONEY REALLY COMING FROM .
By Get over it John
May 13, 2008 9:21 AM | Link to this
John, it is sad that a lot of good people were let go when Smart Paper took over. However, it was a necessary business decision. Champion had very high costs. So, to make it a profitable investment Smart Paper had to trim costs. This is just part of business these days. It happens at every company, every year. It is part of progress. I’m sure stage coach drivers were upset when technology put them out of business too, but none of us are complaining about it.
By Gloria
May 13, 2008 8:43 AM | Link to this
Way to go Smart. Energy cost savings is a great investment for the future.
By John Halstead
May 13, 2008 7:23 AM | Link to this
who the heck cares what smart paper does after a lot of good people were let go when smart paper took over the old champion plant!!!!