According to Wisconsin Rapid City Times, The Wisconsin Rapids Together Task Force met by conference call on Oct. 21 and learned that the Verso Corporation suspended their active search for a buyer for the Wisconsin Rapids mill.
Verso closed the mill in July 2020, ceasing production and placing the mill up for sale.
The task force was created to assist the central Wisconsin community in “accessing resources and assistance in the face of the closing of the Verso Mill in Wisconsin Rapids.” The task force also aides in exploring options for the mill and its employees.
“Verso has employed a consultant, Moelis and Company, to market and sell the mill. They are suspending the active search for a buyer for the mill due to the difficult market and COVID-19. Those in attendance at the task force meeting asked questions on an ideal economy for activating the search. These benchmarks would be beneficial for further understand Verso’s needs for marketing. This information is not currently available,” the Heart of Wisconsin Chamber of Commerce said in a release.
Verso's Wisconsin Rapids mill has the capacity to produce about 540,000 tons of paper per year. The mill makes graphic papers used in commercial printing, media and marketing applications.