Belfast-based company secures $85 million in financing to launch manufacturing operation at Madison mill

MADISON — Belfast-based GO Lab announced Thursday it has secured the $85 million in financing needed to begin construction of a manufacturing operation at the former Madison Paper Industries mill.

Cianbro construction of Pittsfield will move forward with installing three manufacturing lines that will be used to make three types of wood-fiber insulation that GO Lab refers to as TimberHP.

“Everyone has worked extremely hard over the past few years to ensure that we would have the significant, up-front capital needed to turn a paper mill into the first wood-fiber insulation manufacturing plant in North America,” Josh Henry, co-founder and president of GO Lab, said in a statement.

GO Lab will employ 120 people at the Madison mill, with more jobs expected to be created by the end of 2022, company officials said in the statement announcing the financing.

The building products manufacturer closed on the Madison mill in 2019

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Understanding The Claims Process

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Vice President of Product at Visual Lease.

The ongoing impacts of Covid-19 are greatly changing leasing life cycles and accounting workflows. This pressure, coupled with the new lease accounting standards and looming compliance deadlines, is pushing financial leaders across all industries to reevaluate how they’re managing their leases.

One area they’re exploring to help gain better control over their portfolios is the technology that’s in place to proactively monitor and accurately report on their assets. We recently polled senior finance and accounting professionals and more than one-third reported that they don’t have the right people, technology and tools in place to comply with upcoming lease accounting standards like ASC 842. To combat this, most respondents believe increased investment in supportive technologies is key. Similarly, PwC research results show that implementing the new accounting rule is a massive undertaking — with extensive regulatory changes that can impact your data,

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