the visible hand

it is the theory which decides what can be observed – einstein

poor markets, offshore competition, tight credit…

Posted by ecoshift on May 15, 2007

Outside of California forest products companies close due to poor markets, offshore competition, and tight credit… And, they know it.

Laramie Boomerang Online – Laramie, Wyoming News and Information

A Laramie-based wood molding company had to lock its front doors and turn away its employees Saturday after it and its parent company filed bankruptcy in District Court.Rocky Mountain Forest Products (RMFP), 667 W. Flint, and its parent, Tewa Holdings of Wilmington, Del., filed Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware.

Another Tewa Holdings subsidiary, Tewa Moulding, also filed Chapter 7 bankruptcy, according to papers RMFP distributed Saturday to its former employees.

The papers — which were from Cross & Simon LLC, a law firm based in Wilmington, Del. — said Tewa Holdings filed for bankruptcy because of “competition from offshore wood molding producers, a slowdown in the housing market and the inability to restructure its debt with its major secured lender.”


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