NewPage takes upper hand in paper industry
29/06/2010 12:00
Jun. 16--MIAMISBURG -- As a producer of coated paper for magazines and retail catalogues, NewPage Corp. has been at the forefront in international trade battles and has become the largest coated paper manufacturer in North America, based on production capacity.
NewPage is headquartered in a new facility on Gander Creek Drive, but controls 10 mills across much of the upper Midwest and Nova Scotia. It has about 350 Dayton-area employees.
In 2005, Cerberus Capital Partners bought NewPage from MeadWestvaco for $2.3 billion.
In September 2007, NewPage purchased the North American assets of Finnish papermaker Stora Enso Oyj, doubling NewPage's size.
In late 2009, the company said it would join other firms in filing antidumping and countervailing duty petitions against some paper imports from China and Indonesia. In 2007, the U.S. Department of Commerce had ruled that NewPage had been harmed by cheap imports, but the International Trade Commission had disagreed.
"We're still right, and we're harmed (by cheap imports)," Richard Willett Jr., the company's former chief executive, said in an interview in late 2009.
Willett succeeded Mark Suwyn as NewPage's CEO in March 2009. Willett announced his resignation in January, with E. Thomas Curley taking over shortly thereafter. NewPage announced Curley's resignation Tuesday, June 15, along with the resignation of Suwyn as chairman and director, and Michael Edicola, NewPage's vice president of human resources.
(Dayton Daily News)trackingBy Thomas Gnau, Dayton Daily News, Ohio
Wednesday, June 16, 2010 2:08 PM
Source: www.istockanalyst.com
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