JAY — Verso Androscoggin LLC granted selectpersons a third extension Monday on the company’s request for a tax abatement of $469 million in valuation for the April 1, 2013, tax year assessment, Town Manager Shiloh LaFreniere said Monday. The board’s second extension was until Dec. 18, but it has now been extended to Dec. 31, […]
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Posted inBusiness, sj-web
Gov. LePage wants to stop Verso from selling Bucksport mill
AUGUSTA — Gov. Paul LePage’s office is looking for a way to prevent Verso Paper from selling its Bucksport mill to the Canadian metal recycling firm American Iron and Metal Co., but it’s unclear what leverage the state’s leader will have in that fight. Nevertheless, Adrienne Bennett, LePage’s press secretary, said Tuesday in an email […]
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Posted inBusiness, sj-web
Verso sale leaves papermakers uneasy about Bucksport mill’s future
BUCKSPORT — Union officials are fearful the sale of Verso Paper’s Bucksport mill to a Canadian metal recycling company means the end of papermaking at the mill, which opened in 1930 and shut down its last paper machine Sunday. “I’m a lot less optimistic today than I was last week, for sure,” Emery Deabay of […]
Posted inBusiness, sj-web
Verso sells Bucksport mill for $60 million
BUCKSPORT, Maine — Verso Paper has reached an agreement to sell its Bucksport mill and related power generation assets to a subsidiary of the Montreal-based American Iron and Metal in January for about $60 million. Verso reached the sale agreement Friday and disclosed the sale in a filing Monday with the U.S. Securities and Exchange […]
Posted inBusiness, sj-web
Verso delays Bucksport closing until end of December
PORTLAND — The closing of Bucksport paper mill will be delayed until the end of December, when more than 500 people are expected to lose their jobs. Verso Paper Corp.’s Bucksport mill was initially set to shutter on Dec. 1. That’s now the day production at the mill will begin to shut down, company spokesman […]
Posted inRiver Valley
Canadian paper company to purchase NewPage in Rumford
RUMFORD — A Canadian paper company is buying the Rumford Paper Company and a second NewPage mill for $74 million in cash. Catalyst Paper Holdings, based in British Columbia, announced the transaction. In addition to Rumford, Catalyst also will buy a NewPage paper mill in Biron, Wis. NewPage employs about 800 people at its Rumford […]
Posted inFranklin, The Franklin Journal
Verso mill manager to update Jay board on the mill, paper industry
JAY — The Androscoggin Mill manager will update selectpersons Monday night on the state of the mill, the paper industry and what is anticipated in the next five to 10 years, Town Manager Shiloh LaFreniere said Friday. The meeting begins at 6 p.m. Oct. 27 at the Town Office. It will be a 15- to 20-minute […]
Posted inFranklin, Maine, Oxford Hills, River Valley
Reason to worry, reason to hope
Some say the worst is over. Others worry more paper mill closings will follow last week’s Bucksport announcement. A look at what the future could hold for Jay and Rumford. When news broke 10 days ago that Bucksport’s paper mill would close, Ron Hemingway took to Facebook. “This could be us and we know that,” […]
Posted inBusiness, sj-web
Bucksport wrestles with what to do next
BUCKSPORT — While there are many questions and few solid answers now swirling about the future of the Verso paper mill and the 500-plus people employed there, lots of folks in Bucksport can agree that their community is at a crossroads. Many vacant storefronts dotted the business block of Bucksport long before last week’s announcement […]
Posted inBusiness, Franklin
Jay, Livermore Falls managers predict hard times for Bucksport
JAY — A day after Verso Paper announced it would close its Bucksport mill by the end of the year, people here said they sympathize with the 570 workers who will lose their jobs. They know the effects of a mill closing. Wausau Paper closed its Otis Mill, which straddled the Jay and Livermore Falls […]