Verso to sell mill and energy plant at closed Bucksport, ME, paper mill to AIM for $60 million

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Verso to sell mill and energy plant at closed Bucksport, ME, paper mill to AIM for $60 million

December 10, 2014 - 18:45
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OAKLAND, CA, Dec. 8, 2014 (RISI) -Verso Paper LLC and Verso Maine Power Holdings, each an indirect, wholly owned subsidiary of Verso Paper Corp., on Dec. 5 entered into an agreement to sell Verso Bucksport Power LLC to AIM Development for approximately $60 million in cash.

In an SEC filing on Dec. 8, Verso said it anticipates that the transaction will be completed in January 2015.

Verso Bucksport and Verso Bucksport Power own substantially all the assets comprising Verso's paper mill, energy facilities and related operations located in Bucksport, ME.

Verso began the permanent shutdown process of the 355,000 tons/yr Bucksport coated mechanical paper mill last week and expects to end employment by the end of the month for the mill's 500 workers.