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Verso Corp (VRS.N)

VRS.N on New York Stock Exchange

6.00USD
18 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Verso Corp selects two interim co-chairmen of board​
Monday, 9 Oct 2017 08:30am EDT 

Oct 9 (Reuters) - Verso Corp :Verso Corporation announces board chairman succession plan.Verso Corp - ‍Robert M. Amen, chairman of company's board of directors, has decided not to stand for reelection​.Verso - selected Eugene Davis and Alan Carr as interim co-chairmen of board​.  Full Article

Verso Corp's board of directors forms strategic alternatives committee
Thursday, 21 Sep 2017 08:30am EDT 

Sept 21 (Reuters) - Verso Corp :Verso Corporation board of directors forms strategic alternatives committee.Verso - ‍committee will identify and evaluate a range of potential strategic transaction alternatives, including possible sale of some Verso mills​.Verso Corp - ‍has formed a strategic alternatives committee to identify and evaluate a range of potential strategic transaction alternatives​.Verso Corp - ‍ committee will engage in discussions and oversee due diligence process with parties potentially interested in transactions with co.  Full Article

Verso Corp Q2 net loss $49 mln
Wednesday, 9 Aug 2017 06:30am EDT 

Aug 9 (Reuters) - Verso Corp :Qtrly net loss $49 million versus $33 million .Verso corporation reports second quarter 2017 financial results.Sees q3 2017 sales $625 million to $640 million.Q2 sales $585 million.restructuring charges for q2 of 2017 are primarily associated with closure and relocation of memphis office headquarters and closure of Wickliffe Mill.sees 2017 ‍capital expenditures of $55 million - $60 million​.‍sees q3 capital expenditures of $16-20 million​.sees q3 ‍inventory flat to down slightly​.  Full Article

Verso says does not expect to incur additional charges due to paper machine closure
Wednesday, 19 Jul 2017 08:25am EDT 

July 19 (Reuters) - Verso Corp :Verso says does not expect to incur any additional charges as result of permanent closure of No. 3 paper machine and associated equipment- SEC filing.Verso Corp - pre-tax charge of about $4 million incurred for year ended Dec 31, 2016 in severance and benefit costs are expected to be paid in Q3 of 2017.  Full Article

Verso to permanently close 200,000 tons of annual production capacity at its Maine mill
Wednesday, 19 Jul 2017 07:30am EDT 

July 19 (Reuters) - Verso Corp :Verso to permanently close 200,000 tons of annual production capacity at its androscoggin mill in Maine.Verso Corp - shutdown will be effective august 1 and is expected to be complete by end of Q3 of 2017.Verso Corp - permanent shutdown of no. 3 paper machine and associated equipment will impact approximately 120 employees at androscoggin mill.  Full Article

Verso reports Q1 revenue $616 million
Thursday, 18 May 2017 06:30am EDT 

May 18 (Reuters) - Verso Corp :Q1 revenue $616 million.Verso Corp sees Q2 sales of $575-595 million.Verso Corp sees Q2 capital expenditures of $13-16 million.Verso Corp sees 2017 capital expenditures of $55-65 million, down from $73 million in 2016.Verso Corp sees Q2 maintenance expense of $60-70 million.Verso Corp sees Q2 maintenance costs of $210-220 million.  Full Article

Verso says it plans to organize its business into two units
Monday, 14 Nov 2016 06:02am EST 

Verso Corp : Verso Corp - announced three strategic initiatives . Verso Corp - plans to organize its business into two strategic business units - graphic paper and specialty paper . Verso Corp - plans to consolidate its corporate offices in Memphis, Tennessee, And Miamisburg, Ohio, into a single headquarters . Verso Corp - plans to "improve delivery of its support services" with objective of reducing overhead expenses by at least 10 percent on an annual basis .Verso Corp - graphic paper business unit will be led by Michael A. Weinhold, and its specialty paper business unit will be led by Jason J. Handel.  Full Article

Verso Corp reports Q3 results
Monday, 14 Nov 2016 06:00am EST 

Verso Corp : Reconfirmation of 2016 adjusted EBITDA guidance of $180-190 million . Sees full year CAPEX of $70-75 million . Sees maintenance costs down $30-35 million in Q4 versus Q3 . Verso reports third quarter 2016 results . Q3 sales rose 7 percent to $578 million .Sees Q4 sales $625 million to $645 million.  Full Article

Verso plans to temporarily idle 200,000 tons of annual production capacity at Androscoggin mill
Tuesday, 1 Nov 2016 09:00am EDT 

Verso Corp : Verso announces plans to temporarily idle 200,000 tons of annual production capacity at its Androscoggin mill in Maine . Verso intends to implement this capacity reduction beginning in Q1 of 2017 . Idling of no. 3 paper machine will result in layoff of about 190 employees at Androscoggin mill . No expected disruption to customer orders .Verso anticipates that if machine is not restarted, capacity reduction will result in elimination of the jobs.  Full Article

Verso: Robert Amen to become Chairman of Board
Wednesday, 10 Aug 2016 04:15pm EDT 

Verso Corp : David J. Paterson to retire as chairman of board and chief executive officer . Office of chief executive to lead management until new CEO comes on board . Robert M. Amen to become chairman of board .Adam St. John promoted to senior vice president of manufacturing.  Full Article

BRIEF-Verso Corp selects two interim co-chairmen of board​

* Verso Corp - ‍Robert M. Amen, chairman of company's board of directors, has decided not to stand for reelection​