JAY – The four mills being sold by International Paper in Jay, Bucksport, Michigan and Minnesota will operate under the name of Verso Paper Holdings LLC.
Verso means printing on the other side or the left side or can mean two-sided printing, said Bill Cohen, the Maine communications director for IP, soon to be Verso Paper.
“Most of the paper we make is lightweight coated paper to go in catalogs, like the L.L. Bean catalog. It’s printed on both sides,” Cohen said. “It’s high-quality paper on both sides, so you have bright colors on front and back. That is a unique characteristic of our paper. That’s what got us here.”
He added that with other kinds of paper, the ink could bleed through, especially with high-resolution color ink.
Cohen said no closing date on the sale of IP has been set and that the company did not want to release the new name to the public until the deal was closed, “but for legal reasons, it had to be disclosed.”
Brokers on Wall Street are already using the name for the new company.
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