Terrace Bay, ON – Terrace Bay is starting 2024 with some terrible economic and socio-economic news. The community’s largest employer, AV Terrace Bay, a part of the Aditya Birla group, has announced a temporary shutdown of its Terrace Bay pulp mill due to prevailing market conditions. The company made the announcement late on Tuesday, saying the move is effective immediately. The decision will impact 400 employees at the facility. The decision to halt production at the Terrace Bay pulp mill is attributed to the current market conditions. AV Terrace Bay emphasized that this shutdown is temporary in nature. During this period, the mill will be placed in a state of “warm idle,” a measure taken to facilitate a potential future restart. However, the company has not provided a specific timeline for when operations might resume. AV Terrace Bay spokesperson stated that there will be no additional statements or interviews at this time.