NewPage Files Joint Chapter 11 Bankruptcy Plan
MIAMISBURG, OH—NewPage Corp. announced it has filed a Joint Chapter 11 Plan with the U.S. Bankruptcy Court for the District of Delaware. The company also requested an extension of time to file the disclosure statement related to the plan.
“The filing of our plan of reorganization is an important and positive step forward to a successful completion of our financial reorganization,” said George Martin, president and CEO. “Discussions with and among our major creditor groups regarding the plan are ongoing. We are hopeful that these discussions will lead to broad support for our plan.”
NewPage is a producer of printing and specialty papers in North America with $3.5 billion in net sales for the year ended Dec. 31, 2011. Headquartered in Miamisburg, OH, NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan, Minnesota and Wisconsin. These mills have a total annual production capacity of approximately 3.5 million tons of paper.