Ainsworth Lumber Co. Ltd. (TSX:ANS) is permanently closing its oriented strand board mill in Grand Rapids, Minnesota, effective immediately.
The mill had not been in operation since September 2006.
The Vancouver company said market challenges, the mill's condition and other factors made investments in the mill economically unviable.
When the mill's operations were suspended, approximately 190 people were laid off. That reduced the company's annual production capacity by 390 million square feet.
Ainsworth's share price range during the past week: between $2.80 and $3.25; 52-week high: $28.34; 52-week low: $2.85.