After being unsuccessful to find a buyer, Verso has decided to close down its Wickliffe paper mill. The site has a capacity of 259,000 tpy and has already been standing still since November.
In order to balance supply with demand of its customers, the Verso Corporation has decided to close its Wickliffe paper mill in Kentucky, USA. The closure will take place on 1 July, according to the company.
Verso said it had tried to sell the mill but no buyer could be found. However, the company did not rule out a sale in case a buyer would be identified that could continue to operate the facility, possibly for non-papermaking uses.
The Wickliffe mill has been standing still since November last year. Verso used to produce pulp as well as coated woodfree, uncoated and specialty paper with a capacity of 259,000 tpy (285,000 sh.t). The company said it stopped ad production due to the continuing and accelerated decline in demand of the company's coated products and a significant influx of imports.
Verso filed for Chapter 11 at the end of January this year.