U.S. Sen. Susan Collins, R-Maine, is praising a recent decision by the U.S. Department of Commerce that allows the Verso mill in Jay to reach a settlement with the Canadian paper industry. Earlier this year, Verso Corp., owner of the paper mill in Jay, entered into an agreement with Canadian paper producers that might well […]
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Posted inBusiness, sj-web
Sappi Fine Paper to invest $25 million in Skowhegan mill
SKOWHEGAN — Sappi Fine Paper North America is investing $25 million on new equipment at the company’s Skowhegan wood yard in a show of faith in a troubled paper industry. The mill’s managing director says the investment shows the South African company is committed to Maine for the long term. The move follows a $60 […]
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Posted inMaine, sj-web
Collins, King and Poliquin urge FTC to be careful with paper tariffs
PORTLAND — Three members of Maine’s congressional delegation testified before federal trade officials Thursday morning regarding increased tariffs on Canadian paper imports they’ve characterized as a double-edged sword for jobs in Maine. Sens. Susan Collins, Angus King and 2nd District Rep. Bruce Poliquin spoke during a hearing of the U.S. International Trade Commission, which is […]
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 […]
Posted inBusiness, sj-web
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 inBusiness, sj-web
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 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 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
Maine lawmakers head to Taiwan on trade mission
AUGUSTA — Just a day after being sworn into office, a trio of state lawmakers, two Democrats and one Republican, will head to Taiwan on a trade mission. State Sens. John Patrick, D-Rumford, and Brian Langley, R-Ellsworth, along with state Rep. Jeff McCabe, D-Skowhegan, will depart for the seven-day trip, paid for by the Taiwanese […]
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 […]