Displaying items by tag: verso

A Specialized Line of Uncoated Inkjet Roll Papers for High-Speed Inkjet Printers

Verso Corporation (NYSE: VRS), a leading producer of digital printing papers, has just introduced Ideal^® TrueJet^®, a specialized line of uncoated inkjet roll papers for commercial printers and document centers with high-speed inkjet printers.

"Ideal^® TrueJet^® is designed to meet the growing need for a high-quality uncoated inkjet paper for high-speed, personalized print runs," said Verso's Senior Vice President of Sales, Marketing and Product Development Mike Weinhold. "Ideal^® TrueJet^® is manufactured for roll-to-roll, roll-to-fold and roll-to-sheet applications and meets market expectations for high quality graphics, runnability and durability on the best-known, high-speed inkjet presses."

With a brightness of 92, a smooth surface and high opacity, Ideal^® TrueJet^® optically matches Verso's Ideal^® Offset uncoated freesheet web product for commercial offset printing applications. Weinhold adds, "Expanding the commercial Ideal^® Offset line to include a matching inkjet product provides our customers the flexibility to choose the right product for the right technology."

The Ideal^® TrueJet^® line includes 20/50 lb. and 24/60 lb. uncoated text for everyday transactional statements and documents, newsletters, manuals, legal documents and direct mail applications.

Ideal^® TrueJet^® joins Verso's Sterling^® Ultra TrueJet^® and TrueJet^® Book inkjet products. Verso also offers premium digital products including Futura^®, Sterling^® Premium Digital^TM, Sterling^® Premium Digital^TM for HP Indigo, Sterling^® Premium Digital^TM Tough Tear, Blazer Digital^® and Productolith Pts. Digital^® C1S and C2S. To learn more about Verso's entire product portfolio, including digital, sheetfed, web and specialty papers, visit us at versoco.com.

About Verso

Verso Corporation is the turn-to company for those looking to successfully navigate the complexities of paper sourcing and performance. The leading North American producer of printing and specialty papers and pulp, Verso provides insightful solutions that help drive improved customer efficiency, productivity, brand awareness and business results. Verso's long-standing reputation for quality and reliability is directly tied to our vision to be a company with passion that is respected and trusted by all. Verso's passion is rooted in ethical business practices that demand safe workplaces for our employees and sustainable wood sourcing for our products. This passion, combined with our flexible manufacturing capabilities and an unmatched commitment to product performance, delivery and service, make Verso a preferred choice among commercial printers, paper merchants and brokers, converters, publishers and other end users. For more information, visit us online at versoco.com.

Verso Corporation (NYSE: VRS) has just announced that B. Christopher DiSantis will become the chief executive officer and a director of Verso effective as of February 1, 2017.  An entrepreneurial leader with extensive manufacturing experience, DiSantis brings to Verso a proven record of success in leading disciplined, high performance teams focused on driving shareholder value. 

"Chris has demonstrated an exceptional ability to lead organizations to higher levels of growth and performance, even in very challenging market environments, and we're excited about the opportunities that lie ahead for Verso under his leadership," said Verso Chairman of the Board Robert M. Amen. "His outstanding experience and passion for engaging our employees, serving our customers and delivering results for our shareholders will help make Verso a stronger, more competitive company for the future."

Prior to joining Verso, DiSantis served in executive leadership roles for several companies, leading teams that drove tangible productivity gains in operations, grew sales via new product development and implemented creative market strategies to enhance equity returns.  Since 2012, he was the CEO of H-D Advanced Manufacturing Company, a diversified enterprise that manufactures motion control products for the aerospace, defense, energy and industrial markets.  From 2011 to 2012, DiSantis was the CEO of Latrobe Specialty Metals, Inc. (now a part of Carpenter Technology Corporation), a worldwide supplier of essential premium alloys for the aerospace, defense, high speed and tool steel sectors.  Before joining Latrobe, he served for a decade in positions of increasing responsibility, most recently as president, at Hawk Corporation, a global manufacturer of braking and power transmission friction products (formerly a public entity - NYSE Amex: HWK).  

"I'm thrilled to join Verso's outstanding team as the company continues its evolution in a rapidly changing marketplace," DiSantis said.  "Our diverse product portfolio, flexible manufacturing platform, unparalleled customer service and firmly established customer base provide a solid foundation to build upon as Verso expands into important new grades and markets."

DiSantis graduated summa cum laude from Dartmouth College with a bachelor's degree in mathematics and economics.  In 2009, Crain's Cleveland Business named him to its class of "Forty under 40."

About Verso

Verso Corporation is the turn-to company for those looking to successfully navigate the complexities of paper sourcing and performance.  The leading North American producer of printing and specialty papers and pulp, Verso provides insightful solutions that help drive improved customer efficiency, productivity, brand awareness and business results.  Verso's long-standing reputation for quality and reliability is directly tied to our vision to be a company with passion that is respected and trusted by all.  Verso's passion is rooted in ethical business practices that demand safe workplaces for our employees and sustainable wood sourcing for our products.  This passion, combined with our flexible manufacturing capabilities and an unmatched commitment to product performance, delivery and service, make Verso a preferred choice among commercial printers, paper merchants and brokers, converters, publishers and other end users.  For more information, visit us online at versoco.com.

Verso Corporation (NYSE: VRS) has just announced plans to temporarily idle the No. 3 paper machine at its Androscoggin Mill in Jay, Maine, reducing annual coated paper production capacity by approximately 200,000 tons.  Verso intends to implement this capacity reduction beginning in the first quarter of 2017. The mill also will idle a digester and recovery boiler that support the No. 3 paper machine. Most products currently produced on the No. 3 paper machine will be transitioned to other machines in Verso's highly flexible manufacturing system with no expected disruption to customer orders.

"It's critical to Verso's long-term success that we balance the supply of our products with our customers' demand for them, and we currently have more coated paper capacity in our mill system than we can fill," said Michael A. Weinhold, Verso Senior Vice President for Sales, Marketing and Product Development. "Verso made the decision to temporarily idle the No. 3 paper machine and transition the machine's production to lower-cost machines in our manufacturing system to help us stay ahead of the curve and move the entire company toward sustained profitability. At the same time, we are positioning the mill for future success by optimizing equipment, enhancing process efficiency and expanding production for the growing specialty papers market."   

The idling of the No. 3 paper machine will result in the layoff of about 190 employees at the Androscoggin Mill.  Verso anticipates that if the machine is not restarted, the capacity reduction will result in the elimination of those jobs.   

"Challenging market conditions have made these types of actions far too frequent in recent years, and they are never easy," Weinhold said. "They are especially difficult for the employees and their families who are directly affected.  Verso is committed to treating all of our impacted employees with fairness, dignity and respect and to communicating openly and honestly with each individual about how this decision will affect him or her. Our Human Resources team will begin meeting with our affected employees immediately.

"We're in business to help make our customers successful, and Verso remains steadfastly committed to those who currently purchase coated paper products made on the No. 3 paper machine at the Androscoggin Mill," Weinhold said. "Our sales team will begin contacting customers immediately to determine how to make this transition as seamless as possible."

Verso will continue to evaluate market conditions to determine if and when the No. 3 paper machine at the Androscoggin Mill will be restarted.

About Verso

Verso Corporation is the turn-to company for those looking to successfully navigate the complexities of paper sourcing and performance.  The leading North American producer of printing and specialty papers and pulp, Verso provides insightful solutions that help drive improved customer efficiency, productivity, brand awareness and business results. Verso's long-standing reputation for quality and reliability is directly tied to our vision to be a company with passion that is respected and trusted by all. Verso's passion is rooted in ethical business practices that demand safe workplaces for our employees and sustainable wood sourcing for our products. This passion, combined with our flexible manufacturing capabilities and an unmatched commitment to product performance, delivery and service, make Verso a preferred choice among commercial printers, paper merchants and brokers, converters, publishers and other end users. For more information, visit us online at versoco.com.

Verso Corporation (NYSE: VRS), a leading producer of flexible packaging, technical, and label and converting papers, has just introduced GlazeArmor™ Micro, a bleached, uncoated machine-glazed paper with oil and grease resistance (OGR) that is specifically designed for microwave popcorn bag applications. 

The latest addition to Verso's GlazeArmor™ family of lightweight uncoated machine-glazed OGR papers, GlazeArmor™ Micro provides aggressive grease holdout for both inner and outer ply layers of microwave popcorn bags, offering kit grease resistance levels ranging from Kit 6 to 12 and excellent runnability and performance for high-speed bag converting and popcorn packing and filling operations.

"Our GlazeArmor™ Micro papers excel in the critical areas that matter most to microwave popcorn brands seeking high performance OGR paper options – quality, performance and run-to-run consistency," said Mike Weinhold, Verso Senior Vice President of Sales, Marketing and Product Development. "We deliver these American-made papers with the same level of highly personalized customer service, experienced technical resources and overall attention to detail that customers have come to expect from Verso."

The GlazeArmor™ product family is an integral part of Verso's broader portfolio of machine-glazed laminating and converting papers designed for flexible packaging applications. Featuring OGR levels ranging from Kit 5 to Kit 12, the GlazeArmor™ line offers excellent runnability, converting performance and multiple perfluorooctanoic acid (PFOA)-free chemistries, all key performance requirements for end-use applications such as sandwich and deli wraps, foodservice liners, microwave popcorn bags and laminated food pouches.

The GlazeArmor™ product line, including GlazeArmor™ Micro, is produced on paper machine No. 5 at Verso's Androscoggin Mill in Jay, Maine, and offers several basis weights, ranging from 15.5 lb. to 33 lb. (3000 sq. ft.), each optimized for specific end uses. According to Jason Handel, Verso Group Vice President of Product Development and Technical Sales, "The No. 5 paper machine has a long-standing reputation for producing OGR papers with outstanding quality and consistent performance. The GlazeArmor™ product line is no exception."

For more information on GlazeArmor™ or other products in Verso's broad specialty papers offering, email This email address is being protected from spambots. You need JavaScript enabled to view it. or visit versoco.com/specialtypapers.

About Verso

Verso Corporation is the turn-to company for those looking to successfully navigate the complexities of paper sourcing and performance. The leading North American producer of printing and specialty papers and pulp, Verso provides insightful solutions that help drive improved customer efficiency, productivity, brand awareness and business results. Verso's long-standing reputation for quality and reliability is directly tied to our vision to be a company with passion that is respected and trusted by all. Verso's passion is rooted in ethical business practices that demand safe workplaces for our employees and sustainable wood sourcing for our products. This passion, combined with our flexible manufacturing capabilities and an unmatched commitment to product performance, delivery and service, make Verso a preferred choice among commercial printers, paper merchants and brokers, converters, publishers and other end users. For more information, visit us online at versoco.com.

Promotion Features Liberty® Line's Aesthetics, Breadth and Flexibility for Commercial Printing Applications

Verso Corporation (NYSE: VRS), a leading producer of coated papers, has just introduced Life, Liberty^® and the Pursuit of Great Paper, a new promotion for its Liberty^® coated web paper line.

Liberty^® is a No. 4 coated web paper that offers the widest range of basis weights in its class, from 38 lb. to 70 lb., and three finishes – gloss, dull and matte. It is designed to perform on web offset or rotogravure printing presses and is best suited for printing applications including publication covers, catalogs, magazines and retail inserts.

"Liberty^® is a clean, white sheet that delivers just the right amount of contrast, making images and details really stand out," said Verso Brand Manager Tim Nordin. "Exceptional whiteness with great print gloss reproduces images with crisp aesthetics, excellent definition and print snap. The Life, Liberty^® and the Pursuit of Great Paper promotion showcases these features through a variety of print demonstrations on Liberty^® gloss, dull and matte. It also includes unprinted sample sheets of various basis weights and finishes as well as product features and specifications."

Verso Senior Vice President of Sales, Marketing and Product Development Mike Weinhold adds, "Liberty^® has a long track record of excellent, consistent on-press performance with commercial and publication printers. Verso has a high degree of manufacturing system flexibility with multiple paper machines at mills located in the Midwestern and Eastern United States. This means we are able to make Liberty^® on multiple machines resulting in better lead times, greater availability and faster deliveries."

To learn more about Verso's Liberty^® product line, visit versoco.com.

About Verso
Verso Corporation is the turn-to company for those looking to successfully navigate the complexities of paper sourcing and performance. The leading North American producer of printing and specialty papers and pulp, Verso provides insightful solutions that help drive improved customer efficiency, productivity, brand awareness and business results. Verso's long-standing reputation for quality and reliability is directly tied to our vision to be a company with passion that is respected and trusted by all. Verso's passion is rooted in ethical business practices that demand safe workplaces for our employees and sustainable wood sourcing for our products. This passion, combined with our flexible manufacturing capabilities and an unmatched commitment to product performance, delivery and service, make Verso a preferred choice among commercial printers, paper merchants and brokers, converters, publishers and other end users. The FSC® trademark license code for Verso Corporation is FSC^® C014984. For more information, visit us online at versoco.com.

Verso Corporation (NYSE: VRS), a leading producer of flexible packaging, technical, and label and converting papers, have just released Metallized Paper – When Performance and Sustainability Meet, Products Shine, the sixth installment in its popular PAPER@WORK™ series.

This brief discusses the benefits of metallized paper and its impact on product shelf appeal and packaging performance. It also highlights AR Metallizing, the largest and most established paper metallizer in the world, and its focus on service and innovation.

"This new brief delves into the process and advantages of metallizing paper and describes why AR Metallizing is the top provider in this specialized market," said Mike Weinhold, Verso Senior Vice President of Sales, Marketing and Product Development. "AR Metallizing's leadership, combined with our robust, highly-engineered paper, creates impactful impressions that influence purchasing decisions."

Metallized paper is a proven attention getter and sales driver on packaging and labels for branded consumer goods, and it creates visual impact and enhances reader memory in print applications like magazines, direct mail, collateral brochures, annual reports, posters and more. It is also a sustainable alternative to foils or printed films.

"One reason we work with Verso is because they are the leader in this niche," said Kizzie Suriel, AR Metallizing Marketing Communications Manager. "They helped us make metallizing our bread and butter. As the leader in metallized paper, we appreciate Verso's product standards and commitment to quality."

PAPER@WORK™ is an ongoing series of briefings from Verso which details a spectrum of important topics impacting the world of specialty papers. Please visit versoco.com/specialtypapers or email This email address is being protected from spambots. You need JavaScript enabled to view it. to request a copy of this free PAPER@WORK™ brief.

About Verso
Verso Corporation is the turn-to company for those looking to successfully navigate the complexities of paper sourcing and performance. The leading North American producer of printing and specialty papers and pulp, Verso provides insightful solutions that help drive improved customer efficiency, productivity, brand awareness and business results. Verso's long-standing reputation for quality and reliability is directly tied to our vision to be a company with passion that is respected and trusted by all. Verso's passion is rooted in ethical business practices that demand safe workplaces for our employees and sustainable wood sourcing for our products. This passion, combined with our flexible manufacturing capabilities and an unmatched commitment to product performance, delivery and service, make Verso a preferred choice among commercial printers, paper merchants and brokers, converters, publishers and other end users. For more information, visit us online at versoco.com.

About AR Metallizing
AR Metallizing is a global metallized paper manufacturer. Metallized paper is a sustainable alternative to foil or film. Metallized products are used in the production of functional, barrier, cosmetic, labeling and promotional packaging products for major brands. Our industries include food, beverage, consumer packaging goods, entertainment and several other industries. AR Metallizing enjoys a strong reputation in the market for its sustainable products. AR Metallizing is quickly earning a reputation for helping businesses and premium brands reduce climate emissions by replacing plastic packaging with great-looking, yet fully compostable packaging. For additional information, please visit http://www.armetallizing.com.

Highly De-levered Capital Structure Positions Verso to Successfully Compete and Profitably Grow

Class A Common Stock Listed on NYSE; Trading to Begin on July 18, 2016

Verso Corporation (NYSE:VRS) has just announced that the company and its subsidiaries have emerged from bankruptcy following a successful financial restructuring and confirmation of its Chapter 11 plan of reorganization by the U.S. Bankruptcy Court for the District of Delaware on June 23, 2016.

"Our emergence from bankruptcy less than six months after our Chapter 11 filings would not have been possible without the support of our lenders, whose willingness to invest in Verso demonstrates their confidence in our prospects for long-term growth and value creation," said Verso President and Chief Executive Officer David J. Paterson.  "We also appreciate the hard work and dedication of our employees, who continued to serve our customers without interruption throughout the restructuring process.  Lastly, we thank our customers, vendors and other stakeholders for their loyalty.  We believe Verso is poised for sustainable profitability, and we are excited about the opportunities that lie ahead." 

Verso's restructuring reduced the company's debt by $2.4 billion and includes $595 million in exit financing to support ongoing operations and capital investment.  The exit financing consists of an asset-based lending facility with borrowing capacity of up to $375 million led by Wells Fargo Bank, National Association, and a $220 million term loan facility with available loan proceeds of $198 million led by Barclays Bank PLC.

"Verso emerges from bankruptcy as a much stronger company with significantly reduced debt and a unified capital structure that position us to fully realize and leverage the benefits of our prior operational improvements, explore opportunities for strategic growth, successfully compete in the global marketplace, and deliver on our corporate mission to create value for all of our stakeholders," Paterson said.

As provided in Verso's plan of reorganization, all shares of Verso's common stock issued prior to the commencement of Verso's bankruptcy proceeding were cancelled upon emergence, and Verso has issued new shares of common stock to the holders of its previously outstanding funded debt in return for their allowed claims against the company.  There is no majority stockholder, and no single entity owned more than 10 percent of Verso's outstanding shares at the time of emergence.    

In connection with its emergence, Verso also received approval from the New York Stock Exchange for Verso's Class A common stock to be listed for trading on the NYSE.  The Class A common stock will begin trading on the NYSE on July 18, 2016.  The trading symbol for the Class A common stock is "VRS," which is the same trading symbol used for Verso's common stock when it previously was listed on the NYSE.

In accordance with Verso's Chapter 11 plan of reorganization, the term of Verso's previous board of directors expired upon emergence and a new board of directors provided for in the plan of reorganization is effective immediately.  As previously announced, Paterson will serve as Chairman of the Board and will remain as President and Chief Executive Officer until his replacement is named.  The other directors of Verso are Robert M. Amen, Alan J. Carr, Eugene I. Davis, Jerome L. Goldman and Jay Shuster.  Verso's senior management team is unchanged and continues to lead the company.

About Verso
Verso Corporation is the turn-to company for those looking to successfully navigate the complexities of paper sourcing and performance.  The leading North American producer of printing and specialty papers and pulp, Verso provides insightful solutions that help drive improved customer efficiency, productivity, brand awareness and business results.  Verso's long-standing reputation for quality and reliability is directly tied to our vision to be a company with passion that is respected and trusted by all.  Verso's passion is rooted in ethical business practices that demand safe workplaces for our employees and sustainable wood sourcing for our products.  This passion, combined with our flexible manufacturing capabilities and an unmatched commitment to product performance, delivery and service, make Verso a preferred choice among commercial printers, paper merchants and brokers, converters, publishers and other end users.  For more information, visit us online at www.versoco.com  

Verso Corporation, a leading producer of flexible packaging, technical, and label and converting papers, today introduced GlazeSil™, a specialized family of lightweight uncoated, machine glazed release liner papers specifically designed for hygiene and medical applications.

"This exciting addition to Verso's industry leading release liner product portfolio gives producers of hygiene, medical and personal care products more options than ever to meet their unique converting performance, reliability and silicone coating requirements," said Mike Weinhold, Verso Senior Vice President of Sales, Marketing and Product Development. "You can count on GlazeSil™ to deliver the functionality and features required to innovate and differentiate in these markets."

Verso is proud to offer the largest portfolio of pressure sensitive papers in North America, featuring a comprehensive range of label and release liner base papers designed for specific end uses. Available in a wide variety of light basis weights, GlazeSil™ is engineered for healthcare applications such as diaper tape release, feminine care, incontinence and personal care products. GlazeSil™ offers a smooth, uniform surface for excellent silicone coating and release liner characteristics.

The GlazeSil™ product line is produced on paper machine No. 5 at Verso's Androscoggin Mill in Jay, Maine, and offers basis weights (3000 sq. ft.) ranging from 17 lb. to 43 lb., each optimized for specific end uses. According to Jason Handel, Verso Group Vice President of Product Development and Technical Sales, "The No. 5 paper machine has an outstanding reputation for producing high quality papers with excellent surface characteristics and reliable performance. GlazeSil™ is just one example of Verso's commitment to delivering innovative and reliable solutions as the leading provider of pressure sensitive papers in North America."

For more information on GlazeSil™ or other products in Verso's broad specialty papers offering, email This email address is being protected from spambots. You need JavaScript enabled to view it. or visit versoco.com/specialtypapers.

About Verso
Verso Corporation is the turn-to company for those looking to successfully navigate the complexities of paper sourcing and performance. The leading North American producer of printing and specialty papers and pulp, Verso provides insightful solutions that help drive improved customer efficiency, productivity, brand awareness and business results. Verso's long-standing reputation for quality and reliability is directly tied to our vision to be a company with passion that is respected and trusted by all. Verso's passion is rooted in ethical business practices that demand safe workplaces for our employees and sustainable wood sourcing for our products. This passion, combined with our flexible manufacturing capabilities and an unmatched commitment to product performance, delivery and service, make Verso a preferred choice among commercial printers, paper merchants and brokers, converters, publishers and other end users. For more information, visit us online at versoco.com.

Verso Corporation (OTCPink: VRSZQ), a leading producer of coated papers, have just introduced Anthem Plus^® 120 lb. and 130 lb. gloss and dull covers. Anthem Plus^® is an all-American economy coated paper with the flexibility to perform in virtually every sheetfed printing application

• Offering Now Includes 120 lb. and 130 lb. Gloss and Dull Covers

"Anthem Plus^® offers our customers a strong value proposition," said Verso Senior Vice President of Sales, Marketing and Product Development Mike Weinhold. "The addition of 120 lb. and 130 lb. gloss and dull covers provides more solutions for heavier basis weight applications in a versatile grade line that has proven press performance at an economical price. And Anthem Plus^® is made with pride right here in the U.S., supporting local economies and American jobs."

Verso Brand Manager Tanya Pipo adds, "We carry over 290 SKUs of Anthem Plus^® in our warehouses across the country for immediate availability. Our depth of inventory meets our customers' day-in and day-out needs and unplanned surge demand regardless of the basis weight, finish or size. Verso is willing and able to cut custom sizes of Anthem Plus^® fast to meet our customers' just-in-time delivery needs."

Anthem Plus^® is used for a variety of applications including direct mail, brochures, catalogs, posters, newsletters, calendars, bill stuffers, flyers and manuals. It complies with Lacey Act requirements and is chain-of-custody tri-certified to the Forest Stewardship Council^® (FSC^®) (License FSC - C014984), Programme for the Endorsement of Forest Certification™ (PEFC™) and Sustainable Forestry Initiative^® (SFI^®) standards.

About Verso

Verso Corporation is the turn-to company for those looking to successfully navigate the complexities of paper sourcing and performance. The leading North American producer of printing and specialty papers and pulp, Verso provides insightful solutions that help drive improved customer efficiency, productivity, brand awareness and business results. Verso's long-standing reputation for quality and reliability is directly tied to our vision to be a company with passion that is respected and trusted by all. Verso's passion is rooted in ethical business practices that demand safe workplaces for our employees and sustainable wood sourcing for our products. This passion, combined with our flexible manufacturing capabilities and an unmatched commitment to product performance, delivery and service, make Verso a preferred choice among commercial printers, paper merchants and brokers, converters, publishers and other end users. The FSC^® trademark license code for Verso Corporation is FSC^® C014984. For more information, visit us online at versoco.com.

Emergence from Bankruptcy Expected by End of July

Verso Corporation (OTCPink: VRSZ) has just completed another important step toward its emergence from bankruptcy when its Chapter 11 plan of reorganization was confirmed by the U.S. Bankruptcy Court in the District of Delaware.  This confirmation, which comes less than five months after Verso and its subsidiaries filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code, clears the way for Verso to emerge from bankruptcy, likely by the end of July.

"Verso is extremely pleased with this speedy and successful outcome," said Verso President and CEO David J. Paterson.  "Our smooth path through this critical step in the restructuring process would not have been possible without the strong support of our funded debtholders and the Official Unsecured Creditors Committee and the affirmative vote on our plan of reorganization by our creditors.  Their confidence in Verso's prospects for long-term value creation sets the stage as we chart our course to a sustainable financial future."

Verso's restructuring will reduce the company's debt by approximately $2.4 billion upon emergence.  Verso expects to emerge from bankruptcy with $595 million in exit financing to support ongoing operations and capital investments.  The exit financing will consist of an asset-based lending facility with borrowing capacity of up to $375 million led by Wells Fargo Bank, National Association, and a $220 million term loan facility with available loan proceeds of $198 million led by Barclays Bank PLC.

With the overwhelming support of all classes of creditors entitled to vote on the plan, Verso will emerge from bankruptcy with a unified, highly de-levered capital structure that will position the company to successfully adapt and compete in the dynamic global marketplace, even as challenges in the overall economic environment continue.  The confirmed plan of reorganization requires no material changes in the ordinary course of business to Verso's wages and salaries, benefits, pension plans or collective bargaining agreements.

"Verso's restructuring will not change our fundamental operating strategy," Paterson said.  "With an unwavering commitment to ethical business practices and transparency, we will continue to improve safety, efficiency and operational flexibility at our facilities, reduce costs across the organization, and deliver the world-class products and services our customers have come to expect from us."

"In addition, we anticipate that our unified, highly de-levered capital structure will allow us to make investments in Verso's business that will help mitigate the continuing decline in the demand for coated paper products, to explore strategic opportunities that enable profitable growth, and to create value for all of our stakeholders," Paterson explained.  "We believe that Verso is poised for sustainable profitability, and we are excited about the opportunities ahead." 

PJT Partners L.P. provided restructuring and transactional services and O'Melveny & Myers LLP provided restructuring legal advice and assistance to Verso throughout its restructuring. 

About Verso

Verso Corporation is the turn-to company for those looking to successfully navigate the complexities of paper sourcing and performance.  The leading North American producer of printing and specialty papers and pulp, Verso provides insightful solutions that help drive improved customer efficiency, productivity, brand awareness and business results.  Verso's long-standing reputation for quality and reliability is directly tied to our vision to be a company with passion that is respected and trusted by all.  Verso's passion is rooted in ethical business practices that demand safe workplaces for our employees and sustainable wood sourcing for our products.  This passion, combined with our flexible manufacturing capabilities and an unmatched commitment to product performance, delivery and service, make Verso a preferred choice among commercial printers, paper merchants and brokers, converters, publishers and other end users.  For more information, visit us online at versoco.com