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The Ohio Operations Center will be located in the existing Miamisburg facility shortly following the completion of Verso's pending acquisition of NewPage expected later this year. market.
The Cravath team is led by partner Thomas E. Dunn and includes associates Joshua Ayal, Adam M. Sanchez and Mose Hogan III on M&A matters; partner Tatiana Lapushchik, senior attorney Kimberly A. Grousset and associate Alexander E. Greenberg on financing matters; partner J. Leonard Teti II and associates Richard Bohm and Joyce Y. Kim on tax matters; partner Jennifer S. Conway and associate Daniel P. Herrmann on executive compensation and benefits matters; senior attorney Joyce Law and practice area attorneys Brian M. Budnick and Laurel R. Berkowitz on real estate matters; senior attorney Jesse M. Weiss on antitrust matters; senior attorney Annmarie M. Terraciano on environmental matters; and practice area attorney Anthony M. Magistrale on intellectual property matters.
Commenting on the most recent Pixelle acquisition, Executive Chairman Klinger said, “Our experience and focus is on building paper businesses that achieve excellence in customer service and satisfaction, product quality and innovation, and employee safety and performance while maintaining strong community partnerships and environmental stewardship. With the completion of the NewPage acquisition, Verso will have approximately $3.5 billion in annual sales and approximately 5,800 employees in eight mills across six states. Additional operations will include a converting facility in Fremont, OH and wood fiber sourcing operations in strategic wood baskets in Maine, Maryland, Ohio and West Virginia.Pixelle President Tim Hess added, “We are very excited about the new specialty capabilities and talented workforce that will be added to our portfolio.
The transaction, valued at approximately $1.4 billion, originally was announced on January 6, 2014.
"In these unprecedented and uncertain times, PRINTING United Alliance, PIA Affiliates, and NAPCO Media are committed to providing the printing and visual communications industries with the most up-to-date resources on the ongoing COVID-19 situation. Pixelle's Acquisition of Specialty Paper Mills from Verso Corporation On November 12, 2019, Pixelle Specialty Solutions (“Pixelle”) announced that it has signed a definitive purchase agreement to acquire specialty paper mills in Jay (“Androscoggin”), ME and Stevens Point, WI from Verso Corporation … The staff is here to help you as we all weather this storm together.MEMPHIS, TN—January 7, 2015—Verso Corp. (NYSE:VRS), a leading North American producer of printing and specialty papers and pulp, today announced the completion of its acquisition of NewPage Holdings. The Androscoggin mill has the capacity to produce approximately 425,000 tons of paper per year and currently produces flexible packaging papers, release liner base, specialty labels, kraft papers and linerboard. VERSO CORPORATION is a leading North American producer of graphic and specialty papers, packaging and pulp. Our graphic papers portfolio comprises sheetfed, web, digital and inkjet papers used primarily in commercial printing, media and marketing applications, including magazines, catalogs, books, direct mail, corporate collateral and retail inserts. The transaction, valued at approximately $1.4 billion, originally was announced on January 6, 2014. Cravath is representing Pixelle in connection with the transaction.