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Verso Corporation Announces Sale of Duluth, Minnesota, Mill News provided by Share this article Share this article MIAMISBURG, Ohio, May 17, 2021 /PRNewswire/ -- Verso Corporation (NYSE: VRS) today announced the completion of the sale of the company's closed mill in Duluth, Minnesota, to ST Paper 1, LLC, effective May 13, 2021. "Since the idling of the Duluth Mill in July 2020, we have been working diligently to find a viable and sustainable alternative for the Duluth Mill," said President and Chief Executive Officer Randy Nebel. "We are pleased to have found a buyer who plans to operate the...

Share this article Share this article MIAMISBURG, Ohio, May 13, 2021 /PRNewswire/ -- Verso Corporation (NYSE: VRS) today announced that it is commencing a "modified Dutch auction" tender offer to purchase for cash shares of its Class A common stock, par value $0.01 per share (the "Shares"), for an aggregate purchase price of not more than $55.0 million.  Verso President and Chief Executive Officer Randy Nebel said: "Even during this tumultuous time, we remain committed to returning value to our shareholders while maintaining our financial stability. Accordingly, this tender offer is part o...

$       (144) Comments to Results of Operations - Comparison of Three Months Ended March 31, 2021 to Three Months Ended March 31, 2020 Net sales  Net sales for the three months ended March 31, 2021 decreased $189 million compared to the three months ended March 31, 2020, as a result of significant declines in sales volume and unfavorable price/mix. Of the $189 million, or 40%, net sales decline, $59 million, or 13%, was a result of the sale of our Androscoggin and Stevens Point mills in February 2020, and $33 million, or 7%, was attributable to the indefinite idling of our Duluth Mill in ...