Verso Paper Corp. owns the Sartell paper mill that was heavily damaged by an explosion and fire over the Memorial Day weekend. The company says the mill will not reopen.


Employees: About 260

Production capacity: 215,000 tons

Produced: Lightweight/ultra-lightweight coated groundwood and supercalendered paper. These are used in a variety of catalogs, magazines and advertising fliers.

History: The plant is over 105 years old.

Context: Paper and wood products is the fourth-largest manufacturing industry in Minnesota, with approximately $10 billion in annual sales and about 30,000 workers, said Wayne Brandt, executive vice president of Minnesota Forest Industries and Minnesota Timber Producers Association. The Sartell plant is the fifth paper or wood products plant that's closed in Minnesota since 2007. The other four plants made engineered wood products, primarily used in home construction.


Headquarters: Memphis

Stock symbol: VRS

Last share price: $1.41

Annual revenue: $1.7 billion for year ended Dec. 31, 2011

Net loss: $137.1 million

Total employees: 2,600

History: Verso began operations on Aug. 1, 2006, when the company acquired assets of International Paper.

Mills: Verso owns paper mills in Jay and Bucksport, Maine; Quinnesec, Mich., and Sartell.

Sources: Company documents, published reports