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Paper Recycling July 16, 2020 10:35:57 PM

Verso Corp. Still Unable to Find Buyer for Wisconsin Rapids Paper Mill

Paul Ploumis
ScrapMonster Author
The Taskforce will continue to find a prospective buyer for the mill, it said.

Verso Corp. Still Unable to Find Buyer for Wisconsin Rapids Paper Mill

SEATTLE (Scrap Monster): The Verso paper mill in Wisconsin Rapids is likely to shut its operations on 31st July, 2020, as no solid deal to save the mill has come up until now. No purchaser has emerged until now. Neither has the state administration announced any incentive package to the rescue of the mill.

The Wisconsin Rapids Together Task Force, which held its meeting recently, had expressed concerns that the closure of the mill would affect countless families. Moreover, it could have significant impact on the state’s paper industry. The shutdown would result in direct impact of $500 million and indirect impact of approximately $200 million. The Taskforce will continue to find a prospective buyer for the mill, it said.

ALSO READ: Verso Paper Mill in Maryland Accused of Discharging Toxic Contaminants

Following the meeting, Mayor Shane Blaser stated that the Taskforce is yet to find a solution that would keep the facility open. Although the idea of state-sponsored incentive package to save the mill was proposed during the meet, the administration finds it difficult to fulfil, Blaser said. It is extremely difficult to bring back up a facility to full production by the same company, after being idled.

Earlier in June this year, Verso Corp had announced plans to idle two of its paper mills in Duluth, Minnesota and Wisconsin Rapids, Wisconsin.

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