Verso Corporation: Luke MD, Mill Closure Decimates Local Economy [Seeking Alpha]
Verso Corporation (VRS)
Last verso corporation earnings: 2/27 06:30 am
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US:NYSE Investor Relations:
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Source: Seeking Alpha
Verso Corporation: Luke MD, Mill Closure Decimates Local Economy Summary Luke Mill Closure came as a surprise on the heals of labor agreement and new EPA regulations. Water and water treatment facilities were utilized by neighboring cities free of charge and deeply discounted at cost to Verso. Strategic Alternatives committee may finally have come to a conclusion and we may finally see the verdict in January. Thesis: Verso ( VRS The Luke mill closure has been latched onto by many news sites as just another example of globalization destroying American jobs. Luke mill Maryland had been in operation for 141 years and is a testament to the incredible resilience and competitive nature of American businesses. Luke mill was the most costly paper mill in Verso's portfolio. It was responsible for its coated free-sheet product that is under a lot of competitive pressure from cheap international product, mainly Asia. Verso has a lot of production capacity for this particular product and it made
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