Judge instructs Smurfit-Stone to entertain plant sales, reports

According to local media reports, a federal judge ordered the Chicago-based firm to meet with the communities of Frenchtown, Montana, and Ontonagon, Michigan, to provide financial data necessary to find new buyers.

Smurfit is reported to be willing to entertain future uses for both of the plants and all parties will have to sign nondisclosure agreements to protect the firm from proprietary information being published.

Smurfit-Stone was unavailable for comment when contacted by Packaging News.

The corrugated packaging specialist hopes to emerge from Chapter 11 bankruptcy protection this spring as announced in December.

Smurfit-Stone filed for Chapter 11 status, which only affected operations in Canada and the US, in January 2009 in order to restructure its debt.

Chairman and chief executive Patrick Moore has said he will retire from the company within a year of the firm leaving Chapter 11.

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