Verso Corporation (NYSE: VRS) (“Verso”) today announced it has received necessary approvals from the Nuclear Regulatory Commission and the Public Service Commission of Wisconsin to complete its previously announced merger with BillerudKorsnäs AB (“BillerudKorsnäs”). Verso has now received all regulatory approvals necessary to complete the merger.
The transaction is expected to close on March 31, 2022.
https://investor.versoco.com/2022-03-29-Verso-Receives-All-Regulatory-Approvals-Necessary-to-Proceed-with-Closing-of-Merger-with-BillerudKorsnas-AB
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Paper Excellence announced that it recently donated 9,000 jack pine seedlings to the James Smith Cree Nation. James Smith Cree Nation is located on Treaty 6 territory, approximately 60 kilometres east of Prince Albert. The jack pine is native to Saskatchewan and produces excellent habitat for local plant and animal species. The seedlings planted this year will grow to become a forest on the James Smith Cree reserve. “Paper Excellence understands the importance of being good neighbours and greatly values its relationships with Indigenous communities,” said Carlo Dal Monte, Vice President Energy and Strategic Development for Paper Excellence. “We’re pleased to be able to make this donation to the James Smith Cree Nation and, in a small way, support their connection to the land and desire to invest in sustainable forestry.”
Financial summary for the quarter: *EBITDA excluding special items US$98 million (Q1 FY20 US$139 million) *Net debt US$2,056 million (Q1 FY20 US$1,916 million) *Loss for the period US$17 million (Q1 FY20 Profit of US$24 million) *EPS excluding special items -1 US cent (Q1 FY20 6 US cents)
In 2017, Lollicup's Reifenhauser extruder, which produces plastic sheets from resin, became completely operational. By adding this machine, they were able to cut energy use by about 20 percent and improve production by 40 percent, allowing more products to be produced domestically. "The extruder is capable of making thicker, higher quality sheets of plastic," said Production Supervisor Ron Gonzales. "These sheets are used to form Karat® cups and lids." 2017 also saw the initial phases of a new manufacturing plant in Rockwall, Texas. The manufacturing plant is projected to be operational in 2018 and will allow Lollicup to produce more products, in addition to adding products to their Karat and Karat Earth™ lines. Click Read More below for additional information.