What does Verso Corporation do?
Verso Corporation ( NYSE : VRS) is a North American producer of coated papers including coated groundwood, coated freesheet, supercalendered and specialty products. The company restructured in 2016 following Chapter 11 bankruptcy.
Is verso going out of business?
The company restructured in 2016 following Chapter 11 bankruptcy. Verso operates two paper mills in the U.S. Swedish BillerudKorsnäs initiated an aquisition of Verso in 2021 that is expected to be completed in 2022.
What is verso capital’s new €100 million private equity fund?
Verso Capital, a Helsinki-based buyout investor, has raised a new €100 million private equity fund that seeks to invest in carve-outs and other businesses not living up to their full potential in their current ownership.
When did verso go public?
The company was formed in August 2006 when Apollo Global Management purchased the coated and supercalendered paper business from International Paper. In April 2008, Verso conducted an initial public offering and was listed on the New York Stock Exchange. In January 2015, Verso completed its acquisition of NewPage Holdings.
What does Verso Corporation do?
VERSO CORPORATION is a leading American owned and operated producer of graphic, specialty and packaging paper and market pulp, with a long-standing reputation for quality and reliability.
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.
Who bought Verso?
BillerudKorsnas ABThe 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.
How many mills does Verso own?
We operate two North American paper mills in Michigan and a roll to sheet converting facility in Wisconsin.
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 makes verso?
Billerud North AmericaWe are Billerud North America. Proud of the paper we make. Proud that it's one of the most recyclable and recycled products on earth.
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 makes anthem paper?
Verso"Anthem Plus® is the all-American economy coated paper with all the qualities and performance commercial printers want at the price they need," said Verso President of Graphic and Specialty Papers Mike Weinhold. "It has 92-bright, blue-white optics in gloss and satin finishes, from 60 lb. text to 130 lb. cover.
Who bought Verso in Escanaba?
BillerudKorsnasThe Verso acquisition by BillerudKorsnas is now official, with the plan for the merger made public in December and the sale completed last week.
When did Verso become a company?
The company was formed in August 2006 when Apollo Global Management purchased the coated and supercalendered paper business from International Paper. In April 2008, Verso conducted an initial public offering and was listed on the New York Stock Exchange. In January 2015, Verso completed its acquisition of NewPage Holdings.
When did Verso acquire Newpage?
In January 2015, Verso completed its acquisition of NewPage Holdings. In 2008, Verso received the Environmental and Energy Achievement Award from the American Forest and Paper Association for its work with the Bucksport Environmental Innovation Partnership.
Why is Verso closing its mills?
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 still in Duluth?
In January 2021, Verso announced that it no longer planned on restarting its paper mill in Duluth, citing a decrease in demand as a result of the Covid-19 pandemic. In April 2021, Verso reached a settlement over lawsuits regarding pollution in the Potomac River from the defunct Luke Paper Mill.
How VERSO supports your company's success through Corporate Social Responsibility
Transparency and commitment to sustainability benefits the entire company. CSR is a cross-cutting function that spans the entire organization, involving everyone and at the same time having an impact on every area and involving everyone.
What our customers say
"At STEMMER IMAGING, we have been working with VERSO since 2019 as part of our stronger strategic focus on sustainability. So far, the cooperation has been to our complete satisfaction - the team works professionally and has many years of experience and expertise in the field of sustainability.
Test VERSO now for 14 days free of charge or see how other companies work with VERSO
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Verso Capital – Building international growth
Verso Capital is a growth stage buy-out investor focusing on European B2B businesses. We invest primarily into businesses that have up to 50M of revenue, but currently have growth bottlenecks hindering business performance.
We specialise in carve-out situations
Verso Capital is specialised in growth stage carve-outs in Europe. We acquire businesses that are not performing optimally in their current environment. With more than 100 carve-outs and M&A transactions done by our team, we have extensive experience in building and executing even challenging carve-outs quickly and effectively.
Potential for international breakthroughs
Most companies seeking international growth have similar challenges: limited funding, challenges in building international sales channels, as well as a need for a more professional approach to the board of directors’ work. In other words, there are hindrances and obstacles to growth. We can help.
Core promise
We help carve-outs and growth companies seize and deliver on growth opportunities.
Sustainable Development
We firmly believe that companies operating with Sustainable Development as a driving principle will benefit from preferential market conditions.
What is Verso Books?
Verso Books is the largest independent, radical publishing house in the English-speaking world. Verso Logo.
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