NY Fiberboard to invest $500M in Niagara fiberboard company

The company announced it will invest $50 million to expand its Niagara fiberboarding operations.

The company plans to start construction in 2018. 

In its announcement, Niagara Fiberboard said it will expand its production capacity from 50 to 100 fiberboard rolls per day.

The move to expand capacity is part of Niagara Fiberboards plans to increase the number of fiberboard jobs by 2,000 to 5,000 per month by 2021.

The plan is to add another 100 fiberboards to its facilities by 2019. 

The company is in talks with local and federal agencies to build fiberboards in the city of Niagara Falls, which is about 25 miles (40 kilometers) south of Toronto, Canada. 

At least one city is looking to get a jump on the Niagara Fiber Board’s expansion plans.

In June, the city’s finance and tax department announced it was in talks to buy up to 40% of Niagara fiberboards, which the city currently has.

The city said it had received a number of offers from buyers in Niagara Falls and Ottawa, but none of the offers were large enough to warrant a bid. 

“We will continue to work with the city and the Niagara fiber board to determine the most appropriate course of action,” the city said in a news release. 

For more on the construction of Niagara’s fiberboard, check out this story from The Washington Post. 

Posted by Michael Smerconish at 1:09 PM