Shares of Verso Corp.’s stock dropped as low as 7 cents Friday and analysts said they suspect it’s only a matter of time before the company files for bankruptcy. It was more bad news for the town of Jay, which learned this summer that Verso would eliminate 300 jobs at the Androscoggin Mill come winter. […]
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Posted inBusiness
NYSE suspends trading of Verso Paper stock
NEW YORK — The New York Stock Exchange suspended trading on Verso Paper’s stock after the stock price fell to 15 cents per share Wednesday, according to StreetInsider.com. The NYSE is working on delisting the stock. The common stock is available on over-the-counter markets. Verso Corp. announced in August that it planned to shut down […]
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Bucksport to discuss planned Verso Paper mill demolition
BUCKSPORT — Town officials in Bucksport are expected to discuss whether they intend to impose more conditions on a company that plans to demolish the former Verso Paper mill. The Maine Department of Environmental Protection issued the demolition permit last week to American Iron & Metal. Another state permit for wastewater discharge is also required. […]
Posted inFranklin, Livermore Falls Advertiser
Verso files second appeal with state over Jay’s valuation of mill, property
JAY — Verso Androscoggin has taken its fight over the valuation of its local mill and associated property to the state for the second time. The company is appealing the town’s denial of a valuation abatement for the 2014 tax year to the Maine State Board of Property Tax Review. The company has an appeal […]
Posted inFranklin
Transition team formed to help Verso workers who lose jobs
JAY — People are in the process of organizing resources to help Verso Corp. workers who will lose their jobs in late October at the Androscoggin Mill. Sixty-six people turned out for the first meeting of a transition team on Friday at St. Rose Parish Hall in Jay, Lisa Laflin, executive director of the United […]
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Federal judge reviews NewPage, Verso merger
PORTLAND — Since merging with NewPage, Verso Paper Corp. has announcedlayoffs of 610 people, including 300 at its Jay mill. Meanwhile, the mill in Rumford that Verso sold to Catalyst Paper laid off 50 workers. Attorneys representing those laid-off or soon-to-be-laid-off workers made their case before a federal judge Monday afternoon that the closures are […]
Posted inFranklin, Livermore Falls Advertiser
Board discusses layoffs, receives quarry update
JAY — The news that Verso Corp. will eliminate about 300 jobs at the Androscoggin Mill has certainly put the community on high alert, Selectboard Chairman Justin Merrill said at Monday night’s board meeting. Town officials have already contacted the CareerCenter in Wilton. The town will help these people and the community through the company’s […]
Posted inFranklin
Mill worker says energy prices must drop
FARMINGTON — Lance Harvell has worked for International Paper Co., and then Verso Corp., at the Androscoggin Mill in Jay for 28 years. He does not know if he will have a job next year after Verso implements its reduction of paper and pulp production. The company announced Thursday that it planned to eliminate about […]
Posted inBusiness, sj-web
Paul LePage blames taxes, energy costs for Verso paper mill job loss
AUGUSTA — Republican Gov. Paul LePage says the elimination of 300 jobs at a Verso paper mill in Jay underscores the need to reduce the state’s taxes and energy costs. Verso Paper Corp. said Thursday that it will significantly scale back production in Maine and lay off 300 workers at its mill in Jay. The […]
Posted inFranklin, Livermore Falls Advertiser, Maine
Lawmakers: Mill slowdown, layoffs “devastating’ and ‘drastic’
AUGUSTA — State and federal lawmakers in Maine and Washington, D.C., reacted with frustration and concern Thursday at the news Verso will idle part of its mill in Jay — laying off about 300 employees permanently. “The news of the planned layoffs at the Jay mill is devastating for the community,” Sen. Tom Saviello, R-Wilton, […]