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Vantage Industries history
Vantage Industries company history timeline
The Crown Vantage name recalled the Crown Zellerbach Corporation of San Francisco, from whom James River had purchased its paper-related assets in 1986.
However, beginning in 1993, the market for printing papers began to loosen up, with prices heavily discounted and inventories high.
In 1995, sales were strong across the board, and Crown Vantage, one of the industry leaders, achieved revenues in excess of $1 billion.
The two-machine, non-integrated operation had the capacity to make 10,000 tons per year of uncoated premium printing papers, but since January 1997, it had produced only very short runs of specialty grade papers with the yearly total stopping short of 2,000 tons.
The company lost $8.8 million in the first half of 1998, roughly $8 million more than it had lost the year before.
In early 1999, with prices of paper and pulp near historical lows, the company decided to divest its most commodity-oriented paper and pulp mills, those in Berlin and Gorham, New Hampshire, for about $45 million in order to raise money to pay down its debt.
© 2022 +Vantage Corporation – Industrial Automation, Metrology and Manufacturing Systems Integration.
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