MISSOULA, Mont. (AP) - Smurfit-Stone Container Corp. has announced it is permanently closing mills in near Frenchtown and Ontonagon, Mich.

The Frenchtown mill has 417 employees and will continue operating until Dec. 31. The University of Montana's Bureau of Business and Economic Research says the average job at Smurfit-Stone paid more than $70,000 in 2008. The bureau estimates the closure will remove $45 million in payroll and benefits from
the Missoula-area economy.

The Ontonagon mill ceased operations in September. It had 182 employees.

Smurfit-Stone president and COO Steve Klinger said Monday the Frenchtown and Ontonagon facilities do not provide adequate returns over the long term.

Smurfit-Stone filed for bankruptcy protection last January and expects to emerge from bankruptcy reorganization in the spring.

Official statement from the Missoula Chamber of Commerce:

The Missoula Area Chamber of Commerce Board of Directors, staff and membership recognizes that the closure of Smurfit-Stone Container in Missoula will have a profound economic impact on Missoula and throughout the Northwest. With the loss of over 400 quality jobs, Missoulians will feel the closure immediately and it will create a significant ripple in the weeks and months to come.

It is important for everyone in Missoula to share our appreciation of Smurfit Stone for their years of support and acknowledge them as a strong community partner. Missoula has many fine businesses and community attractions to strengthen our quality of life because of significant volunteerism on the part of Smurfit Stone’s employee’s time and consistent corporate financial support over the years.

Our hearts go out to the leadership team and the employees of Smurfit. Our Chamber community is stunned by this announcement and we pledge to work with our elected officials and other organizations in Missoula to do all that we can do.

The Missoula Area Chamber of Commerce will continue to work on ways to build a stronger city and to promote all that Missoula has to offer. Currently, Missoula is embracing opportunities to market and promote Missoula as a regional medical center and Phase II final results on a feasibility study for a Multi-purpose Events Center will be completed the first part of January. The Events center would offer an opportunity for Missoula to diversify our economy and bring in new revenue. One of Missoula ’s events – the Missoula Marathon – just received the honor of being designated "No. 1 Best Overall in America “out of 400 marathons run each year in this country.” Organizers predict this rating will triple attendance at next year’s event to over 5,000 runners.

Realizing this great loss, the Missoula Chamber will provide its knowledge and community leadership, as it has done over the 100+ years, working together with our organizational partners to keep Missoula the great place we all appreciate today.