Jun 01, 2005. /Lesprom Network/. FiberMark, a fiber-based materials producer that employs about 200 people locally and 1,600 people worldwide, is trying to exit out of Chapter 11 bankruptcy this year. The company, which is one of the town's largest employers, reported losses recently of $2.3 million during the year's first quarter, which ended March 31, according to its most recent financial filing. That's down from last year's loss of $16.9 million during the same time period in 2004. "I think the bottom line is we're continuing to run our business," Janice Warren, the company's director of investor relations and corporate communications, said Tuesday. "We would like for results and sales levels to be stronger than they are." The lower losses are connected to lower reorganization costs for the company and also lower interest expenses, both of which are linked to FiberMark's bankruptcy, the company said. The company also suffered from a lower volume of American operations and higher material costs during the first part of the year. Sales from German operations were up 10% to $61.2 million from $55.6 million, the company said. In North America, sales were at $53.6 million, down nearly 6% from last year's $56.9 million. In the first quarter of the year, sales totaled $114.8 million, which is up from last year's $112.4 million, the company reported. That represents a 2% increase of $2.4 million. In all of 2004, the company lost $25.6 million, which was way down from 2003's loss of $119.2 million. Company officials hope to emerge from bankruptcy as a private corporation by September or October, Warren said. In turning private, shares will no longer be traded on the public market. "We are certainly anxious to get out of the process as quick as possible and move on," Warren said. The company is still awaiting results from an independent examiner who is probing disagreements between FiberMark creditors, Warren said. Vermont's U.S. Bankruptcy Court has ordered that the examiner file findings by June 8 and a status conference has been set for June 15. Earlier this year, the company announced that it was pulling out of its plan to reorganize after filing Chapter 11 bankruptcy last year. The company later announced that its three largest bondholders couldn't agree on matters related to corporate governance. Founded in 1989 and headquartered in Brattleboro, Fibermark has 11 facilities in the United States and Europe.