Verso Paper to Cut Coated Groundwood Production
Just a couple weeks after announcing an increase in prices for a number of its grades, Verso Paper Corp. revealed this past week that it will be reducing production capacity of its coated groundwood paper by 84,000 tons per year as a result of a change at its Bucksport Mill (Maine) facility. The company said its current coated groundwood customers “will experience a seamless transition as the manufacture of their product is moved to other paper machines in the Verso mill system.”
The transitioning of the mill’s No. 1 paper machine to begin manufacturing specialty papers instead of coated groundwood will take effect Sept. 22.
“Transitioning the No. 1 paper machine at our Bucksport Mill to specialty papers will provide a strategic opportunity for Verso to reposition this valuable asset to achieve its optimal profit potential and strategically falls within our core competencies of producing lightweight and ultra-lightweight products, along with flexible coating capability,” said Mike Jackson, Verso’s president and CEO. “By contributing to the future success of the Bucksport Mill, this move will benefit our stockholders, customers and employees.”
Jackson added, “Our customers will not see any effect from this transition.”