Verso to Locate Ohio Operations Center in Miamisburg Following Completion of
Pending Newpage Acquisition
Verso West Chester Office Will Close
MIAMISBURG, OH -- (Marketwired) -- 06/05/14 -- Verso Paper Corp.
(NYSE: VRS), a leading North American producer of coated papers,
today announced plans to consolidate its existing West Chester office
and the NewPage Miamisburg office into a single Ohio Operations
Center. The Ohio Operations Center will be located in the existing
Miamisburg facility shortly following the completion of Verso's
pending acquisition of NewPage expected later this year. Verso's
corporate headquarters will remain in Memphis, Tenn.
Verso's West Chester office currently houses about 55 employees in
customer-facing and Information Technology functions. "We're
committed to presenting a single face to our customers on Day 1,"
said Mike Weinhold, Verso's senior vice president of Sales, Marketing
and Product Development. "Quickly co-locating our teams will help
ensure we deliver on our promise of a seamless transition for
The NewPage Miamisburg office is located at 8540 Gander Creek Drive,
about 20 miles north of West Chester. "While we understand this will
be an adjustment for our West Chester employees, we plan to do our
best to minimize the potential disruption that such a move entails,"
Verso's Vice President of Human Resources Kenny Sawyer said. "We
conducted a thoughtful and rigorous analysis of our options for a
single Ohio Operations Center. Ultimately, our decision was based on
a combination of financial, logistical and employee considerations
that led us to select Miamisburg as the best option."
Verso Paper Corp. is a leading North American producer of coated
papers, including coated groundwood and coated freesheet, and
specialty products. Verso is headquartered in Memphis, Tenn., and
owns three paper mills in Maine and Michigan. Total production
capacity generated from these mills is 1.5 million tons of paper and
930,000 tons of pulp. Verso's paper products are used primarily in
media and marketing applications, including magazines, catalogs and
commercial printing applications such as high-end advertising
brochures, annual reports and direct-mail advertising. Additional
information about Verso is available on its website at
In this press release, all statements that are not purely historical
facts are forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements may be identified by the words "believe," "expect,"
"anticipate," "project," "plan," "estimate," "intend" and similar
expressions. Forward-looking statements are based on currently
available business, economic, financial and other information and
reflect management's current beliefs, expectations and views with
respect to future developments and their potential effects on Verso.
Actual results could vary materially depending on risks and
uncertainties that may affect Verso and its business. For a
discussion of such risks and uncertainties, please refer to Verso's
filings with the Securities and Exchange Commission. Verso assumes no
obligation to update any forward-looking statement made in this press
release to reflect subsequent events or circumstances or actual
Verso Paper Corp.
Robert P. Mundy
Senior Vice President and Chief Financial Officer
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