Assets and Resources 8 Mills in 6 states 5400 employees (still hiring)
3.5 billion in annual sales 1.4 bil NewPage Acquisition:
Verso’s acquisition of NewPage has created a stronger, more stable company with an effective strategy to weather industry headwinds and reduce operating costs, while ensuring that our customers continue to benefit from the distinctive quality and service that they have come to expect from us. While we will continue to face increased competition from electronic substitution for print and from international producers, our larger, more efficient organization has a sustainable capital structure and is better positioned to deliver solid results despite the industry’s continuing challenges.
PPS down on Perfect Storm of events:
Sept 21st-VRSZ delisted from the NYSE Operations impacted by strong dollar and cheap Canadian imports 2014 acquisition hurt bottom line as market softened recent rumors of mill closings 2015 end-of-the-year tax loss selling
Stars are aligning: -International Trade Commission issued final ruling on subsidized Canadian imports; duties ranging from 17.87 to 20.18 percent will be imposed that offset the advantages that Canadian producers by Dec. 4th -company subsequently released statement indicating no plans to close additional mills -An update / PR on progress managing costs should be coming at any moment now: In addition, to help mitigate the high energy and other operating costs in Maine and to make the Androscoggin Mill more competitive in the future, Verso will optimize the mill's pulp, power and recovery assets. The optimization efforts are expected to take place in the fourth quarter of 2015 and the first quarter of 2016.
This will be the ‘make / break’ moment for Verso…starting with the ITC implementation on Canadian supercalendar paper imports. Successfully managing OPEX will attract the likes of the Berkshire Hathaways of the world....perfect take-over candidate once all those stars allign. Anyone want .02's?
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