NewPage-Stora Integration Costs Jobs
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MIAMISBURG, OH—In an effort to achieve $265 million in synergies, NewPage announced several moves related to its integration with the former Stora Enso North America.
Four paper machines are being closed down permanently at facilities in Rumford, ME; Niagara, WI; and Kimberly, WI. Its Chillicothe, OH, converting mill will be shut down and its equipment relocated to a pair of plants. In all, 664 positions are being impacted.
Despite the reductions, NewPage expects to increase its North American production between 3 percent and 8 percent in 2008 compared to the combined production realized in 2007, according to Mark Suwyn, chairman and CEO.