Verso Paper Corp. is a leading North American supplier of coated papers to catalog and magazine publishers. The coating process adds a smooth uniform layer in the paper, which results in superior color and print definition. As a result, coated paper is used primarily in media and marketing applications, including catalogs, magazines, and commercial printing applications, such as high-end advertising brochures, annual reports, and direct mail advertising.
Verso is one of North America's largest producers of coated groundwood paper, which is used primarily for catalogs and magazines. It is also a low cost producer of coated freesheet paper, which is used primarily for annual reports, brochures, and magazine covers. It also produces and sells market kraft pulp, which is used to manufacture printing and writing paper grades and tissue products.
Verso operates 9 paper machines at four mills located in Maine, Michigan, and Minnesota. The mills have a combined annual production capacity of 1,505,000 tons of coated and supercalendered paper, 165,000 tons of ultra-lightweight specialty and uncoated papers, and 930,000 tons of kraft pulp.
Products are sold and marketed to approximately 125 customers which comprise approximately 700 end-user accounts. The company has long-standing relationships with many leading magazine and catalog publishers, commercial printers, specialty retail merchandisers, and paper merchants. Relationships with its ten largest coated paper customers average more than 20 years. Verso products reach end-users through several distribution channels, including direct sales, commercial printers, paper merchants, and brokers.
Security Details: Authorized Shares 250,000,000 a/o Sep 22, 2015 Outstanding Shares 81,837,254 a/o Sep 22, 2015 Float 44,984,330 a/o Sep 22, 2015
Assets and Resources 8 Mills in 6 states 5400 employees (still hiring)
3.5 billion in annual sales 1.4 bil NewPage Acquisition:
Verso Corporation Reports Third Quarter 2015 Results
MEMPHIS, Tenn., Nov. 16, 2015
MEMPHIS, Tenn., Nov. 16, 2015 /PRNewswire/ -- Verso Corporation (OTCQB: VRSZ) today reported financial results for the third quarter of 2015. Results for the quarters ended September 30, 2015 and 2014 include:
- Net sales of $782 million in the third quarter of 2015 compared to $350 million in the third quarter of 2014.
Operating income before special items of $23 million in the third quarter of 2015 compared to $16 million in the third quarter of 2014.
Adjusted EBITDA of $84 million in the third quarter of 2015, compared to $41 million in the third quarter of 2014.