Verso Acquiring NewPage
MEMPHIS, TN—Verso Paper, a producer of coated papers, and NewPage Holdings, a Miamisburg, OH-based producer of coated, supercalendered and specialty papers, have entered into a definitive agreement under which Verso will acquire NewPage in a transaction valued at $1.4 billion. Upon closing, the combined company will have sales of approximately $4.5 billion.
Printer Sues for Unpaid Bill
MANSFIELD, OH—A printer here is trying to be paid for two years' worth of printing, totaling more than $400,000, it claims it is owed by a publisher of church directories, according to the Mansfield News Journal. XPress Publishing and Printing says the customer, Universal Church Directories, made sporadic payments on its tab, but still has a balance of $420,852, accrued for the printing of church directories and similar materials.
RR Donnelley Buys Esselte
CHICAGO—RR Donnelley will acquire substantially all of the North American operations of Stamford, CT-based Esselte, a privately-owned developer and manufacturer of nationally branded and private label office and stationery products, for $96.5 million in cash and stock. Esselte's brands include Ampad writing and envelope products, Oxford index cards, and Pendaflex document organization and storage products.
ASG Closing Doors in March
INDIANAPOLIS—ASG, a 40-year-old packaging and label printing business, will close its doors this spring, resulting in the loss of about 200 jobs, WTHR-TV 13 reported. Employees will begin final shifts in mid-March, with a March 31 closure slated. Employees told Channel 13 that there had been prior rumors circulating of the potential plant closure.