Paper Companies Announce Merger
Marquette, MI – (Great Lakes Radio News) – Two companies that operate paper mills in the Upper Peninsula have struck a deal.
Verso Paper announced yesterday that it plans to buy NewPage Holdings Inc. for $1.4 billion.
The Memphis, Tennessee-based coated papers maker expects the acquisition of the printing and specialty paper maker to conclude in the second half of this year.
Verso currently operates a mill in Quinnesec, while NewPage has a paper mill in Escanaba.
The combined company will have sales of approximately $4.5 billion and 11 manufacturing facilities located in six states.