BOTTEGONE, ITALY – The weak global economy has claimed another victim.
Isola Group announced it will close
MAS Italia, its laminate manufacturing operation located here.
Shareholders have authorized liquidation, beginning the legal process to settle with creditors.
Isola will relocate production to its Isola GmbH operation in Duren, Germany. A limited number of MAS Italia customer service, accounting and sales staff will be retained.
In a release, Isola Group CEO Ray Sharpe said it was no longer viable for the company to operate two large laminate production facilities in Europe. “Current market demand can be more adequately met by one facility operating in Germany, the largest laminate market in Europe.”