The national and worldwide economic situation is having another impact on the local economy. NewsChannel 7 has learned the Panama City Smurfit-Stone Paper Mill will be temporarily shutting down in one week.
A spokesman for Smurfit-Stone Paper Mill said the temporary closing is due to, "Market related down time", compared to the equipment maintenance closings that have occurred periodically in the past.
Mike Mullen, head of corporate relations for Smurfit-Stone in St. Louis Missouri, said the mill's 400 plus employees were told of the shut down plans late Friday.
The mill will close Saturday, November 22nd and will re-open after the first of the year. An exact day for re-opening has not yet been determined.
The local mill has been recognized as one of the most efficient plants in the company. Employees have a reputation for leading the local United Way each year with their contributions.
Most of the employees say they are somewhat prepared for the shutdown, and although it’s never a good time, the good news is the mill will be reopening.