Wisconsin community is reacting after a billion dollar sale of three
paper mills. On Monday, Verso Paper announced that it has purchased
NewPage. That includes its mills in Wisconsin Rapids, Stevens Point,
is the third sale in fifteen years," said Wisconsin Rapids Mayor
does put a little bit of concern in the hearts," said Melissa
Reichert, director of Wisconsin Rapids Chamber of Commerce.
Tennessee based paper company bought NewPage for close to $1.5
billion. Right now NewPage employs more than 1,700 workers in
100 years its provided a ton of economic opportunity and prosperity
for our community," said Vruwink.
what does this sale mean to those employees? According to Verso Paper
President and CEO, David Paterson, nothing bad. In a statement,
Paterson says the company does not plan to close any mills or cut any
combination of Verso Paper and NewPage will create a stronger
business that is better positioned to serve our customers and compete
in a competitive global marketplace," said Paterson.
NewPage spokeswoman agrees.
and Verso will work together to ensure a smooth transition for
stakeholders of both companies," said NewPage Director of
Communications Shawn Hall in a news release.
has local leaders are on board.
them gives us faith that there's more credit backing them, and
they're in a stronger financial position long term," said Vruwink.
sale is expected to take months to finalize. Community leaders here
say they'll keep a close eye on it. When the sale does close, the new
company will have 11 manufacturing plants in six states.