Verso Paper Corp. announces closure of Maine paper mill

CLEVELAND (Scrap Monster): The Memphis, Tennessee-headquartered Verso Paper Corp. has announced its decision to close the Bucksport, Maine paper mill by end of this year. The mill has been unprofitable for the company for many long years. Even the dedicated efforts by the employees failed to convert it into profitable business. According to the company management, it is impossible for the mill to achieve profitability in the current market situation.

The Maine mill had a production capacity of approximately 350,000 tons of groundwood paper and nearly 55,000 tons of specialty paper.

The company will do all the needful to help the Bucksport mill employees who will be badly affected by the closure. The processing of severance benefits and other assistance will be taken care of. It will also co-ordinate with local and state administration to help them identify alternative employment opportunities.

Verso Paper Corp. is a leading North American producer of coated papers, including coated groundwood and coated freesheet, and specialty products. Verso is headquartered in Memphis, Tennessee, and owns three paper mills located in Maine and Michigan. Verso's paper products are used primarily in media and marketing applications, including magazines, catalogs and commercial printing applications such as high-end advertising brochures, annual reports and direct-mail advertising.