One of the key tasks of paper manufacturer Verso is to match its graphic paper supply to declining demand. This is why the company has announced the permanent closure of its PM 3 at the Androscoggin mill.
US company Verso Corporation has decided to permanently shut down its PM 3 at the Androscoggin mill. This will reduce the company's capacities for coated paper by 180,000 tpy. Verso said in a statement that 120 employees were affected by the measure. The shutdown is said to be effective on 1 August and is expected to be complete by the end of the third quarter.
The PM 3 had already been idle since January this year. At that time, it was not clear if production would start again. Verso said it would evaluate market conditions and that restarting would depend on how market conditions develop. "Consistently matching the supply of our graphic paper products with customer demand for them, dramatically reducing our costs and rapidly diversifying our product portfolio into growing markets are essential keys to Verso's future success," CEO Mr DiSantis now said.
The PM 3 has an installed capacity of around 180,000 tpy (200,000 sh.t) of coated paper. The Androscoggin mill has a total of three paper machines with a combined capacity of 408,000 tpy (450,000 sh.t).