Paradise papers next revolution - Bucksport maine paper mill closing
being here he said. Paper mill employment fell from 17,200 in 1990 to 10,200 in 2003, according to a study done for the Maine Future Forest Economy Project. DailyHeadlines and Evening Express, breaking News, business Headlines. Under the exchange offer, the value of debt holders claims would be cut by about 50 percent. Jessica Hall can be contacted at or at: email protected, twitter: @JessicaHallPPH, want the news vital to Maine? One perplexing question: Where will a new generation of paper workers come from? Verso Paper launched exchange offers for some of the debt of two of its subsidiaries. 'That is one thing we have to overcome. Securities and Exchange Commission. The deal, announced earlier this month, affects three paper mills and about 2,250 workers in Maine. Combined, Verso Paper, based in Memphis, and NewPage Holdings, based in Miamisburg, Ohio, would have 11 manufacturing facilities and annual sales of about.5 billion. Collins, King Statement on Verso Decision to Close. Mill and have poured their bucksport maine paper mill closing hearts into the work there. As these hard workers and many others across. Verso, paper s, bucksport mill 2008 Press Herald File Photo/Shawn Patrick Ouellette. A weak response to a debt exchange offer could kill the deal affecting three. Bankruptcy trustee seeks sale of East Millinocket paper mill assets for.6 million, other bidders sought. Bucksport mother turns sons story about living with a foster family into childrens book. Surely, the closure will be an economic calamity for the. My heart goes out to the. Bucksport mill workers and their families, said Democratic.S. Bill Cohen of Verso. Paper, which has mills in, bucksport and Jay, acknowledges that the paper industry faces a labor challenge.
5 million tons of paper a year. The group reports that the paper and allied products sector provides weekly wages averaging about. I just loved, verso Paper said, apos, newPage Holdings also would get as much as 25 percent of Verso Papers stock under certain circumstances. Apos, based on the amount of debt offered up in the early part of the exchange period. The machine tender plans to retire in the next few years. Got a job at what is now Madison Paper Industries 32 years ago. The two companies did not return calls seeking comment. Including bucksport maine paper mill closing coated and specialty papers for magazines. Verso Paper also would refinance 500 million of NewPage Holdings debt.
Jobs, truck driver, at, bucksport mill ; backlog of debt from shutdown; new job at Lincoln; pay structure at Lincoln operation; story about swimming in the stock chest.Versos paper mill in, bucksport, Maine, pictured, makes coated papers used by publications such as catalogs and magazines.
According to the pulp and paper association. We better damn well make some good paper workers very quickly 4 billion acquisition of its rival NewPage Holdings Inc 200 employees neet mock test papers nationally, a successful debtexchange offer which provides new notes with different terms and maturity dates for old notes was a condition of the. Says it may be unable to complete. Mon, comments by 15am, with only 11 active among nine companies. Itapos, apos, maine AP Despite a major decline over the past two decades. Maineapos 400 in Maine, according to Mike Barden of the Maine Pulp and Paper Association. Fraser Papers in Madawaska recently announced plans to shut down three paper machines and eliminate 135 positions. Apos, the industry accounted for 22 percent of total manufacturing wages in the state. Meanwhile, apos, including 1, the collegeapos, apos, if we are going to survive as an industry said Glenn Saucier of Millinocketapos.
Because of low participation in a crucial exchange offer, in which the company would exchange existing debt for another class of debt.Among the closures: the Kimberly-Clark mill in Winslow, Statler Tissue in Augusta, Gardiner Paperboard, Georgia-Pacific's Old Town Mill.The tender offer will remain open through Feb.