Verso Corporation
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| Verso At-a-Glance The company is in bankruptcy. | |
| Headquarters: | Memphis, Tennessee |
| Paper mills: | 8 |
| Products: | Coated groundwood, coated freesheet, supercalendered, specialty products, uncoated printing papers and hardwood market pulp |
| Annual production capacity: | 3.6 million tons of coated freesheet, coated groundwood, supercalendered and specialty |
| Customers: | North America's leading catalog and magazine publishers, commercial printers and specialty paper converters |
| Customer service: | Miamisburg, OH |
Based in Memphis, TN, Verso Corporation (OTC Pink Current: VRSZQ) is a leading North American producer of coated papers including coated groundwood, coated freesheet, 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.
Verso operates eight paper mills in the U.S., located in Jay, Maine; Duluth, Minnesota; Escanaba, Michigan; Luke, Maryland; Quinnesec, Michigan; Stevens Point, Wisconsin; Wickliffe, Kentucky; and Wisconsin Rapids, Wisconsin. These mills have a combined annual capacity of approximately 3.6 million tons of paper. Verso's customer service team is located in Miamisburg, OH.
History
In June 2000, International Paper Company acquired Champion International Paper to form International Paper's coated and supercalendered paper business. In August 2006, a subsidiary of Verso formed by affiliates of Apollo Global Management, purchased the coated and supercalendered paper business from International Paper.[1] In April 2008, Verso conducted an initial public offering and was listed on the New York Stock Exchange.[2] In January 2015, Verso completed its acquisition of NewPage Holdings.[3]
On January 26, 2016, Verso Corporation filed for Chapter 11 bankruptcy.[4]
Sustainability
Verso publishes an annual sustainability report which includes detailed information on sustainability performance and initiatives as outlined in Verso's sustainability policy.[5]
Responsible Fiber Procurement
As stated in the fiber procurement policy,[6] Verso is committed to using only wood fiber from sustainably managed forests. Verso recognizes credible third-party forest certification standards which verify that the perpetual growing, harvesting and regeneration of trees is successfully integrated with the protection of wildlife and wildlife habitat, plants, soil, air and water quality. These standards include the Forest Stewardship Council(FSC-C019085), Sustainable Forestry Initiative(SFI), Canadian Standards Association(CSA), Programme for the Endorsement of Forest Certification(PEFC), American Tree Farm System(ATFS) and most Master Logger(ML) standards.[7] Verso is committed to help increase the overall amount of certified fiber in the global marketplace. Verso announced on December 13, 2011 their partnership for more certified acres in Maine.[8] Verso participates in the Environmental Paper Assessment Tool (EPAT)[9] which allows buyers and sellers of paper products to evaluate the environmental performance data along the paper supply chain.
Safety
Verso emphasizes employee safety with its environmental health and safety policy.(EHS)[10]
Energy
Verso's three-pronged energy strategy seeks to reduce overall energy consumption, generate more green energy from renewable biomass and reduce carbon footprint. In November 2009, the United States Department of Energy (DOE) awarded Verso a $9.3 million grant to develop waste energy recovery technologies.[11] Verso announced on December 3, 2009 its participation in the DOE's Save Energy Now Leader Program.[12][13]
Awards
Verso is recognized for accomplishments and leadership in the areas of sustainability, energy initiatives and safety.[14]
References
- ^ International Paper sells unit to Apollo for $1.4 Bln
- ^ Verso sets I.P.O. range
- ^ [1]
- ^ Brickley, Peg (January 26, 2016). "Verso Corp. files for bankruptcy". MarketWatch. The Wall Street Journal. Retrieved May 5, 2016.
- ^ [2]
- ^ [3]
- ^ Master Logger Standards
- ^ Verso in Partnership for more Certified Acres in Maine
- ^ EPAT
- ^ [4]
- ^ Verso Awarded Nearly $10 million for Energy Efficiency Project
- ^ Verso Participates in DOE's Energy Saving Program
- ^ DOE Launches Save Energy Now Leader Program
- ^ Awards