JAY (AP) — Shareholders frustrated with returns from a Maine paper mill are considering selling the operation.
The Portland Press Herald reports investors are considering selling the Androscoggin Mill in Jay. According to a Securities and Exchange Commission filing, shareholders with Verso Corp. are frustrated with the mill’s financial performance and are evaluating all options to protect their investments.
Androscoggin Mill had previously laid off about 120 workers during the summer when it shut down a paper machine.
Hilco Valuation Services paper analyst Jesse Marzouk says he wouldn’t be surprised if the mill is sold given the current paper industry climate in Maine.
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