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Lorenson named new president of Alerus Financial

Lorenson named new president of Alerus Financial
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Verso Corporation Reports Second Quarter 2021 Financial Results and Declares Quarterly Cash Dividend of $0.10 per Share

Verso Corporation Reports Second Quarter 2021 Financial Results and Declares Quarterly Cash Dividend of $0.10 per Share
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Verso Corporation Names Brian D. Cullen Senior Vice President and Chief Financial Officer

/PRNewswire/ Verso Corporation (NYSE: VRS) today announced that Brian D. Cullen will become its Senior Vice President and Chief Financial Officer effective. ....

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Verso Corporation Announces Sale of Duluth, Minnesota, Mill

Verso Corporation Announces Sale of Duluth, Minnesota, Mill
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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 Duluth Mill in the future, providing local employment opportunities and serving the local business community and residents of the Duluth area. ....

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Verso Corporation Reports First Quarter 2021 Financial Results and Declares Quarterly Cash Dividend of $0.10 per Share

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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 July 2020. The remaining $97 million was a combination of market declines and the idling of our Wisconsin Rapids Mill. Total company sales volume was down from 554 thousand tons during the three months ended March 31, 2020, to 339 thousand tons during the same period of the current year. Of the 215 thousand ton volume decline, 59 thousand tons were a result of the sale of our Andro ....

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