Wickliffe Paper Company Has a New Owner
Ballard County’s Wickliffe Paper Company officially has a new owner.
In a $1.4 billion deal, national producer Verso Corp now controls both the mill and its parent company, NewPage Holdings.
Negotiations began early last year.
Investor documents issued after the NewPage acquisition include plans for millions of dollars in "cost synergies" - operating costs savings expected when companies merge. These savings can come from layoffs and merging of other assets.
However, Verso Human Resources Director Michael Mazzone says staff changes aren’t on the table for now.
The Wickliffe plant employs some 430 people and can manufacture 285,000 tons of paper per year.