JAY — Verso Androscoggin LLC filed an appeal Friday afternoon with the town, claiming that the $829,258 tax abatement selectpersons granted for the 2013 tax year is wrong and unlawful. Verso claims the property remains substantially overvalued. Jay selectpersons reduced the valuation of Verso’s property from $815.4 million to $591.9 million for the 2013 tax […]
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Posted inBusiness, Franklin, sj-web
Video: LePage calls Verso ‘bottom feeders,’ and it should leave Maine
AUGUSTA — Maine Gov. Paul LePage says the chances of the shuttered Bucksport paper mill reopening are “little to none” and describes the company officials who closed the mill as “bottom feeders.” The Kennebec Journal reported LePage made his remarks Wednesday at a Kennebec Valley Chamber of Commerce meeting in Augusta. His statements come a […]
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Posted inMaine, sj-web
Bucksport mill gets three new suitors before court hearing
BUCKSPORT — Three companies have stated an interest in restarting Verso’s shuttered mill, filing letters notifying a federal judge that they would like time to evaluate the facility, which is set to be sold to a scrap dealer. Each of the companies filed letters before a hearing Tuesday where U.S. District Court Judge John Woodcock […]
Posted inAdvertiser Democrat, Franklin
Paper, wood product celebration being planned for August in Jay, Livermore Falls
LIVERMORE FALLS — The Maine Paper & Wood Product celebration is being organized for Aug. 29. Preliminary ideas include having the celebration take place in Jay and Livermore Falls. Representatives of Maine’s Paper and Heritage Museum in Livermore Falls and others are involved in organizing the event, museum Vice President Sherry Judd said Friday. It […]
Posted inMaine, sj-web
Bucksport to hold public forum in wake of mill shutdown
BUCKSPORT — Bucksport residents are discussing the future of their town in the aftermath of the shutdown of the Verso paper mill. The mill shut down production this month, putting more than 500 people out of work. Its owner has announced plans to sell the facility to a Canadian metal recycler. The town of about […]
Posted inRiver Valley
Rumford, Wisconsin paper mills sold for $62.4 million cash
RUMFORD — A Canadian paper company has bought Rumford Paper Co. and a second NewPage mill in Biron, Wis., for $62.4 million in cash. Rumford mill spokesman Tony Lyons said the sale went through at about 11:30 a.m. Wednesday. “As of right now, the Rumford and Biron paper mills are officially part of the Catalyst […]
Posted inAdvertiser Democrat, Franklin
Jay board grants Verso Paper $829,258 abatment in taxes
JAY — Selectpersons unanimously voted Tuesday to reduce the valuation of Verso Paper Corp.’s Androscoggin Mill and its property from $815 million to $591.9 million for 2013 and granted the company an $829,258 tax abatement for that year. The action followed nearly an hourlong executive session with the town’s attorney, Michael “Mike” Sheehan, of Preti […]
Posted inBusiness
Verso reaches settlement with Department of Justice to purchase NewPage
RUMFORD – Verso Paper Corp. announced Wednesday that it reached a settlement with the U.S. Department of Justice, allowing it to move forward with its acquisition of NewPage Holdings Inc. for approximately $1.4 billion. The merger, originally announced on Jan. 6, 2014, had been held up due to an antitrust review by the U.S. Department […]
Posted inBusiness, sj-web
NewPage-Verso deal clears antitrust hurdle
PORTLAND — Verso Paper Corp. reached a settlement with federal antitrust regulators to buy its larger competitor NewPage for about $1.4 billion, putting a long-sought deal to restructure both coated paper companies near completion. Verso announced the breakthrough for the deal Wednesday morning, stating that the two paper makers reached a settlement that needs approval […]
Posted inMaine, sj-web
LePage lobs criticism at Verso’s plan to transfer renewable energy deal to new buyer
PORTLAND — Gov. Paul LePage’s office is hoping Maine energy regulators can place a roadblock in front of Verso Paper’s sale of its Bucksport mill to a Canadian scrap metal dealer. State energy regulators confirmed Tuesday that they are reviewing an inquiry from LePage about whether Verso can transfer its contract to provide renewable power […]