DUBLIN, Georgia (41NBC/WMGT) – Valmiera Glass is laying off 350 employees at its Dublin facility.
According to a news release, it’s because of unexpected losses during the extended start-up phase of the corporation’s Phase II operation.
The company’s major shareholder searched for an external investor, but the attempt failed.
Valmiera Glass was forced to stop the Phase II fiberglass furnace operation. The company intends to continue operating its Phase 1 needle mat division.
Valmiera Glass plans to reorganize.
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