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Verso Paper Corp. to Take Market-Related Downtime for Coated Groundwood
MEMPHIS, Tenn.-(Business Wire)-September 25, 2008 - Verso Paper Corp. (NYSE: VRS) today announced that it intends to take approximately 30,000 tons of downtime related to coated groundwood production during the fourth quarter of 2008. Initially, approximately 9,000 tons of downtime will be taken at its Sartell Mill in Minnesota over a two-week period beginning on October 5, 2008. The specific timing and facilities impacted to achieve the remainder of this curtailment will be determined during the fourth quarter. This downtime is in addition to the approximately 13,000 tons of coated groundwood downtime that Verso took at its Bucksport Mill in Maine earlier in September. Verso’s coated groundwood paper is used in leading catalogs and magazines.
“As we said back in July, we are committed to running our manufacturing operations in a manner to achieve a balance between our supply of paper and the demand for paper by our customers,†said Verso President and CEO Mike Jackson. “Based on what we currently see relative to demand and current inventory levels, this additional downtime will help us maintain that balance.â€
About Verso
Based in Memphis, Tennessee, Verso Paper Corp. is a leading North American producer of coated papers, including coated groundwood and coated freesheet, and supercalendered and specialty products. Verso’s paper products are used primarily in media and marketing applications, including magazines, catalogs and commercial printing applications such as high-end advertising brochures, annual reports and direct-mail advertising. Additional information about Verso is available on our Web site at www.versopaper.com. References to “Verso†or the “Company†mean Verso Paper Corp. and its consolidated subsidiaries unless otherwise expressly noted.
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