Where is the Verso mill?
Where is the Verso mill?
WISCONSIN RAPIDS, WI (OnFocus) – The Verso paper mill in Wisconsin Rapids will be under new ownership in 2022 after the company entered into a definitive merger agreement with Swedish Packaging Corporation, BillerudKorsnäs.
Who bought Verso in Escanaba?
BillerudKorsnas
The Verso acquisition by BillerudKorsnas is now official, with the plan for the merger made public in December and the sale completed last week.
How many paper mills does Verso have?
two paper mills
Verso currently has two paper mills in Michigan and a roll-to-sheet converting facility in Wisconsin as well as distribution centers in Illinois and Pennsylvania, and according to the company, currently has approximately 1,700 employees in the U.S.
Who bought Verso?
BillerudKorsnas AB
The packaging company BillerudKorsnas AB announced Sunday it would acquire Verso Corp. In statements and in a press conference, executives for the company announced a $1 billion, nearly decade-long plan to convert and upgrade the mill in Escanaba, Michigan, into a producer of sustainably made paperboard.
What happened to Verso Corp?
On June 9, 2020, Verso announced a plan to idle its US paper mills in Wisconsin Rapids, Wisconsin and Duluth, Minnesota indefinitely by late July 2020. The closure was due to the decline in demand for graphic paper and reduced use of print advertising in various industries during the coronavirus pandemic.
Is Verso being sold?
BillerudKorsnäs announced the acquisition Sunday. It’s buying Verso for 825 million dollars in cash. The plan is to convert Verso’s largest facility, its Escanaba mill, into an integrated paperboard production site. One machine is estimated to be converted by 2025, a second machine by 2029.
Who is buying Verso Paper?
BillerudKorsnäs AB
19, 2021 /PRNewswire/ — Verso Corporation (NYSE: VRS) (“Verso”) today announced that it has entered into a definitive merger agreement under which BillerudKorsnäs AB (“BillerudKorsnäs”) will acquire all of the outstanding shares of Verso for a purchase price of $27 per share in cash, or approximately $825 million1.
