Last €2.02 EUR
Change Today -0.083 / -3.94%
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verso corp (A0M) Snapshot

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52 Week High
01/9/15 - €2.84
52 Week Low
06/26/14 - €1.20
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verso corp (A0M) Details

Verso Corporation produces and sells printing papers, specialty papers, and pulp in the United States. Its printing papers are used in commercial printing, media, and marketing applications, including magazines, catalogs, books, direct mail, corporate collateral, and retail inserts; and specialty papers are used in label and release liner, flexible packaging, and technical paper applications. The company was formerly known as Verso Paper Corp. and changed its name to Verso Corporation in January 2015. Verso Corporation was founded in 2006 and is headquartered in Memphis, Tennessee.

2,100 Employees
Last Reported Date: 08/1/14
Founded in 2006

verso corp (A0M) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $639.1K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $743.7K
Senior Vice President of Manufacturing and En...
Total Annual Compensation: $755.7K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $594.5K
Senior Vice President of Sales, Marketing & P...
Total Annual Compensation: $687.9K
Compensation as of Fiscal Year 2013.

verso corp (A0M) Key Developments

Federal Judge To Consider Offers For Verso's Bucksport Mill

A federal judge has called a hearing on January 20, 2015, to consider at least two offers made by paper manufacturing companies to buy Verso Corporation (NYSE:VRS)'s Bucksport paper mill. .S. District Judge John A. Woodcock called the hearing to consider a letter dated January 16, 2015, sent by Kejriwal Singapore International which says it wants to buy and resume operations at the Bucksport mill and hire several hundred people. Paul LePage and Rosaire Pelletier, senior forest products adviser for the Maine Department of Economic and Community Development, also filed letters with the judge to say they had been working with at least two companies that had interest in keeping the Bucksport mill operating as a paper manufacturer. They did not name the companies.

Verso Paper Corp. has Changed its Name to Verso Corp

Verso Paper Corp. changed its name to Verso Corp.

Verso Paper Corp. Elects Robert M. Amen as Director; Amends its Amended and Restated Certificate of Incorporation and Bylaws; Enters into Shared Services Agreement with Newpage Holdings Inc. and Newpage Corporation

On January 7, 2015, following the NewPage Holdings Inc. (NewPage) acquisition, Verso Paper Corp.'s board of directors increased its size from 9 to 10 directors and elected Robert M. Amen, who served as a director of NewPage up to the conclusion of the NewPage acquisition, to fill the newly created directorship. Mr. Amen's election as a director of Verso occurred pursuant to a letter agreement dated as of January 3, 2014, among Verso, NewPage and NewPage Corporation, in which the parties agreed that, on the terms and subject to the conditions set therein, Verso would use its reasonable best efforts to cause a director of NewPage to be elected to the board of directors of Verso promptly after the completion of the NewPage acquisition. Mr. Amen will serve as a Class I director whose term expires at Verso's 2015 annual meeting of stockholders. It is anticipated that Mr. Amen will be nominated for election by Verso's stockholders at such meeting to serve for a term of three years. On January 7, 2015, Verso amended both its amended and restated certificate of incorporation to change its name from Verso Paper Corp. to Verso Corporation and its amended and restated bylaws to reflect such name change. On the Closing Date, in connection with the consummation of the NewPage acquisition, Verso Paper Corp. (Verso), NewPage Holdings Inc. (NewPage) and NewPage Corporation entered into a shared services agreement. Under the Shared Services Agreement, Verso may provide or cause to be provided to NewPage certain services from and after the closing of the NewPage acquisition. The Shared Services Agreement provides for the treatment of services costs, costs to implement expected synergies, and the benefits anticipated therefrom. Payment under the Shared Services Agreement will be monthly with quarterly true-ups. The Shared Services Agreement provides for a broad array of potential services, including operating and ‘back office’ or corporate-type services. For all services provided to NewPage, NewPage will pay Verso an amount equal to the all-in cost incurred or paid by NewPage for such service on an average basis over the twelve-month period prior to the Closing Date. The Shared Services Agreement will have an initial term of three years and will automatically renew for successive one-year terms thereafter unless either Verso or NewPage provides 90 days’ prior written notice. NewPage will indemnify Verso in connection with its or its affiliates’ provision of services to NewPage.


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