BUCKSPORT — Maine’s Bureau of Labor Standards is looking into whether a shuttered paper mill has paid all of the severance owed to machinists who worked at the facility. A spokeswoman for the bureau says Monday the review of Verso Paper Corp. is ongoing. The International Association of Aerospace Workers and Machinists says Verso erred […]
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Sale of Bucksport’s Verso mill to Canadian metal recycler finalized
BUCKSPORT (AP) — The sale of a shuttered Bucksport mill to a Canadian metal recycler is complete. Verso Paper Corp. spokesman Bill Cohen said that the sale to AIM Development closed on Thursday. A union representing some workers at the mill had filed a lawsuit in an attempt to block the sale and open a […]
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Judge refuses to halt sale of Bucksport mill to Canadian scrap metal firm
BANGOR — The sale of the Bucksport mill to a subsidiary of scrap dealer American Iron & Metal for $58 million may go forward after a federal judge Tuesday refused to halt it due to possible antitrust violations. U.S. District Judge John Woodcock said in his 73-page ruling, issued about 2 p.m., that lawyers for […]
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 inBusiness, Maine
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 […]
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International papermaker wants to buy Bucksport mill, according to court documents
BUCKSPORT — An international firm with offices in Mumbai, Singapore and New York City wants to buy the closed Verso mill and operate it as a papermaking facility, according to a letter filed Sunday in U.S. District Court in Bangor. Rahul Kejriwal, the head of Kejriwal Singapore International, sent the letter, dated Jan. 16, to […]
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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 […]
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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 […]
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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 […]
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Steelworkers’ union at odds with machinists over Verso severance pay
BANGOR — A dispute has broken out between two unions representing employees at the Verso Paper mill in Bucksport over whether the company should be forced to pay full severance to the displaced workers by Jan. 8, 2015. On Monday, the United Steelworkers union filed paperwork in U.S. District Court in Bangor seeking to join […]