The firm that owns 66 percent of the company’s shares is disappointed with its return and says selling the Androscoggin Mill would be one way to give value to stockholders.
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Posted inBusiness, Maine
Maine town that lost its paper mill thirsts for Poland Spring plant
Madison officials see opportunity in the bottler’s latest expansion search, but concede the sale of hydroelectric power stations will determine the future of the former mill site.
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Posted inBusiness, Maine, News
Potential buyer gets court order limiting demolition at East Millinocket mill site
The company plans to buy the property for a biofuel refinery, but says the owner is ignoring their deal and doing demolition that endangers some of the buildings the company wants to use.
Posted inBusiness, Maine, News
Buyer of closed Madison paper mill envisions success with new use
New Mill Capital Holdings hopes to imitate the success it had with the purchase of a former Biddeford bakery, which is now a FedEx distribution center.
Posted inBusiness, Maine, News
Verso merges offices, splits up 7 mills to trim costs
The paper company, which owns a mill in Jay, says it expects to save 10 percent in overhead costs from the moves.
Posted inBusiness, Maine, News
Twin Rivers in Madawaska to acquire paper division of New York company
The Maine company expects to maintain the four Burrows mills, which employ about 200 people.
Posted inBusiness, Maine, News
Lawsuit charges directors got money from settlement at expense of Lincoln mill
A bankruptcy court filing says that the company started losing money after a boiler explosion, and that three board members pocketed large sums from an insurance payment rather than fix the equipment.
Posted inBusiness
Verso Corp. forms new executive team
Top management now includes a graduate of Maine Maritime Academy, Adam St. John.
Posted inBusiness, Maine, News
Feds designate $7.7 million in grants to support forest products industry
The grants will be directed toward rural communities affected by mill closures.
Posted inBusiness, Maine, News
Maine paper mills look for a niche as they fight to stay open
A changing market is calling for labels, filters and packaging rather than just paper for magazines and catalogs.