Verso Paper Corp has announced plans to close its paper mill in Bucksport, Maine, USA. The closure of the mill is expected to occur in the fourth quarter of 2014.
The mill closure will reduce Verso's coated groundwood paper production capacity by approximately 350,000 tons and its specialty paper production capacity by approximately 55,000 tons.
"The Bucksport mill unfortunately has not been profitable for a number of years, in spite of our employees' dedicated efforts to make it so. Our assessment indicates that it is impossible for the mill to achieve profitability in today's marketplace," said Verso President and Chief Executive Officer, Dave Paterson.
"This decision is especially difficult because of the significant impact that the closure of the Bucksport mill will have on many people across the region, especially our long-serving and hard-working employees and their families," said Verso Senior Vice President of Manufacturing and Energy, Lyle Fellows.
