Verso Announces Major Cuts in Coated Paper, Pulp Production Capacity

Actions by Memphis, Tenn., USA-based Verso Corp. at its Androscoggin Maine, USA (photo), and Wickliffe, Ky., mills will reduce capacity by 430,000 tons of coated paper and 130,000 tons of dried market pulp. Decision was driven by secular decline of coated paper demand (-4.7% in the first half of 2015, following declines of 3.4% and 4.3% in 2014 and 2013), together with high operating costs in Maine, especially energy costs and local property taxes.