On January 16, 2008, NewPage Corporation, a wholly-owned subsidiary of NewPage Holding Corporation, announced actions being taken to integrate original NewPage operations and the former Stora Enso North America (SENA) operations. These restructuring decisions are intended to create the platform essential to become one company, remain competitive in the marketplace, serve our customers more efficiently and reach the synergies we have committed to achieve.The specific restructuring actions are as follows:
- Permanently close the No. 11 paper machine in Rumford, Maine, by the end of February 2008. Approximately 60 employees will be affected by the shutdown.
- Permanently close the pulp mill and two paper machines, Nos. 43 and 44, in Niagara, Wisconsin, by the end of April 2008. Approximately 319 employees will be affected by the shutdown.
- Permanently close the No. 95 paper machine in Kimberly, Wisconsin, by the end of May 2008. Approximately 125 employees will be affected.
- Permanently close t he Chillicothe, Ohio, converting facility by the end of November 2008 after some of the converting machines and volume are transferred to existing facilities in Luke, Maryland, and Wisconsin Rapids, Wisconsin. Approximately 160 employees will be affected.
We also expect to incur severance and other termination costs related to personnel in other areas of the company, including sales, finance and other support functions, as longer term plans for their departments are implemented.
At the date of this filing, we are unable in good faith to make a determination of the amount or range of amounts expected to be incurred in connection with the actions described above.
A copy of the news release is attached to this report as Exhibit 99.1.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
