Verso Corp. has completed the acquisition of NewPage Holdings Inc. for $1.4bn. The deal was announced nearly exactly one year ago.
Just before the close of the deal, Newpage completed the sale of its paper mill in Biron, Wisc. and its pulp and paper mill in Rumford, Maine, to Catalyst Paper Operations Inc. That was necessary to satisfy federal antitrust concerns.
As the owner of NewPage, Verso now has about $3.5bn in annual sales and roughly 5,800 employees in eight mills across six states.