Free Newsletter
Verso restructuring could include sales of Duluth, Stevens Point mills (UPDATE)
Verso restructuring could include sales of Duluth, Stevens Point mills (UPDATE)
By: Associated Press//November 17, 2015//
Listen to this articleDULUTH, Minn. (AP) — Verso Corp. says it may sell some of its mills, including those in Duluth, Minn., and Stevens Point, Wis., as part of a restructuring.
The paper maker said in its third quarter earnings that it is exploring opportunities to raise funds through potential sales of certain mills, including Duluth, Stevens Point, Wickliffe in Kentucky and the Jay facility in Maine. The Kentucky mill is already idle and the Maine facility recently cut production.
Verso is reporting a net loss of $11 million in the third quarter. It blames sales declines on an increase in offshore imports and reduced demand for coated paper. The company says restructuring could include Chapter 11 bankruptcy.
WDIO-TV reports the Duluth mill has nearly 300 employees.
Related Content
Polls
Loading ...Today’s News
- Wisconsin homeowner accuses contractor of leaving remodeling job unfinished
- 200-unit riverfront apartment building gets OK in Milwaukee
- TOP BIDDERS: The biggest recent winning bids from around Wisconsin | June 9
- Baird Center CEO fired by convention center board
- Q&A: Minnesota environmental group leader talks data center review process
- Trump announces $19M modernization of coal plant near Portage
- Wauwatosa shops for specialty grocer
- Wisconsin allocates nearly $50M in tax credits for housing projects
- Contractors eager to fill positions as open construction jobs tick up to 259,000
- Wisconsin awards $130,000 for construction and trade worker training
- Milwaukee manufacturer plans expansion with data center growth
- Megaprojects push Milwaukee construction costs above U.S. average
Project Profiles
- First prefabricated bridge in US installed in Eau Claire County
- Illinois developer worked with Wisconsin contractor to build 258-unit Wauwatosa apartment complex
- VJS Construction raises the roof for Bruce Guadalupe Community School expansion project
- Microgrid pilot project will store energy for village affected by outages
- Dane County sees uptick in highway work zone crashes, on track to exceed last year
- The Hop streetcar will debut newest service route in fall with limited service
- FPC Live slims venue proposal to 1 downtown building
- Children’s Hospital urgent care center in Milwaukee gets first round of city approval
- With Sonag Construction shut down, feds move to block indicted owner from collecting leftover assets
- Four contractors selected to build border wall prototypes
- UW-Milwaukee’s Greenstreet shaping minds (and the city)
- Turning the Corner(s) (PHOTO SLIDESHOW)