The paper company and a shareholder group have agreed to move ahead with a $400 million deal to sell the company’s mills in Maine and Wisconsin.
paper industry
Posted inBusiness, Franklin, Maine, News
Verso urges shareholders to approve sale of 2 mills, including 1 in Maine
The company has been in a dispute with 2 dissident shareholders, private equity firms Atlas Holdings and Blue Wolf Capital Partners, which oppose the sale of the mills and back their own slate of directors for Verso’s board.
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Posted inBusiness, Franklin, News
Investor takeover could ‘derail’ sale of Jay mill, Verso board claims
Three board members nominated by an investment group could pave the way for a merger with another paper company, the company’s board of directors warns shareholders.
Posted inBusiness, Franklin
Verso proposes new board leadership to fend off investor coup
The corporate maneuvering does not appear to pose a threat to Verso’s pending sale of the Androscoggin Mill in Jay.
Posted inBusiness, Maine
Jay paper mill in line for millions in new investment
Verso Corp. plans to add products and increase production at its mill in Jay where about 500 people work.
Posted inMaine, News
State rules Madison doesn’t have to pay $1 million tax abatement to former mill
Madison Paper Industries has 30 days to appeal the decision, but its lawyer, Jonathan A. Block, has not received indication of the company’s plans to do so as of Monday afternoon.
Posted inBusiness, Maine, News, Politics
Maine’s styrofoam ban met with mixed response from Waterville-area businesses
The law, effective Jan. 2021, could increase prices, but it brings a sense of job security to over 500 employees at the Huhtamaki paper products plant.
Posted inBusiness, Maine, News
Belfast company plans to buy former Madison paper mill for insulation production, employing 110
GO Lab Inc. plans to employ more than 100 people at the former Madison Paper Industries mill, which shuttered three years ago.
Posted inMaine, Politics, Source
Climate bills call for Maine to reduce emissions to 80% below 1990 levels
Seven hours of testimony provide a glimpse into the scope and impact of proposals to rein in greenhouse gas emissions from power plants, factories and motor vehicles.
Posted inBusiness, News, Politics
Next step for Mike Michaud after Congress: His local select board
Never one to stop serving, the former Maine representative with deep ties to East Millinocket looks to help rebulid the mill town.