What happened to Verso Corporation?
The Verso Corporation is set to be acquired by a Swedish pulp and paper manufacturer. 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.
Who bought verso paperboard?
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.
Is ATLAS taking over Verso Corporation?
Daily Press file photo Verso’s Escanaba paper mill is shown in this file photo.Verso Corporation confirmed Wednesday it has received an unsolicited takeover bid from Atlas Holdings LLC.
What happened to Verso’s paper mill in Wisconsin Rapids?
The press release announcing the acquisition had no mention of Verso’s paper mill in Wisconsin Rapids. That mill has been sitting idle for more than a year and a half now. U.S. Congressman Tom Tiffany (R-Minocqua) and State Senator Mary Felzkowski (R-Tomahawk) praised the sale.
Who is buying Verso paper?
BillerudKorsnäs AB19, 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.
Who owns Verso corporation?
BillerudKorsnäs Inc.Verso Paper Holdings LLCVerso Corporation/Parent organizations
How many paper mills does Verso have?
two paper millsVerso 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 Wisconsin Rapids paper mill?
BillerudKorsnäsVerso Paper Mill Acquired by BillerudKorsnäs, Future To Be Determined. 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.
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.
Who bought Midwest paper?
Industrial Opportunity Partners, a private equity firm based in Evanston, Ill., had bought Midwest Paper Group in January 2020. The mill has been operating since 1889. Midwest Paper Group can annually produce 400,000 tons of paper on its three machines and employs around 320 workers, according to its website.
How many paper mills are there in Wisconsin?
Paper was an $18.16 billion Wisconsin industry employing 30,262 workers at 34 mills, plus another 204 facilities that convert that paper into other products, according to a 2019 state study. Factoring in other parts of the supply chain, including loggers and truckers, it grows to $28.88 billion and 95,853 workers.
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.
Who owns Biron paper mill?
Catalyst PaperThe mill has 425 employees as of 2015. Biron Mill was established in 1895 by the Grand Rapids Pulp and Paper Company....Biron MillIndustryPulp and paperProductsCoated groundwood paperEmployees425 (2015)Owner(s)Catalyst Paper5 more rows