NewPage history, profile and corporate video
In 2005, Cerberus Capital Management, a private equity firm, bought MeadWestvaco’s paper division and renamed it NewPage. NewPage is North America’s largest coated paper manufacturer, based on production capacity has been in the paper business since the late 1800s. The company’s products serve a wide range of markets and uses, including advertising brochures, magazines, catalogs, textbooks and corporate annual reports. NewPage emerged from Chapter 11 in Dec. 2012.”
Two of the mills can trace their roots to the West Virginia Paper Company (aka the West Virginia Pulp & Paper Company and later, Westvaco) that was established in 1888 by William Luke on 50 acres (202,000 m²) of land along the Potomac River in an area known as “West Piedmont” (now Luke, Maryland). The mill in Luke remains a major economic factor in the area and its impact straddles the river into Beryl and Piedmont in West Virginia.
In 2005, MeadWestvaco’s Printing and Writing Paper business was sold to investment firm Cerberus Capital Management for about $2.3 billion to form NewPage Corporation. NewPage originally constituted 5 pulp and paper manufacturing in Kentucky, Maine, Maryland, Michigan, and Ohio. In April 2006, NewPage sold their carbonless operations located in Ohio for $84 million to global specialty papermaker P. H. Glatfelter Company, based in York, Pennsylvania. In 2007, NewPage Corporation purchased the North American assets of Stora Enso (formerly Consolidated Papers) which included mills in Minnesota, Wisconsin and Nova Scotia.
On September 7, 2011, the NewPage Corporation filed for chapter 11 bankcruptcy reorganization due to negative cash flow for more than a year. NewPage Corporation announced December 21, 2012, that it has successfully completed its financial restructuring and has officially emerged from Chapter 11 bankruptcy protection pursuant to its Modified Fourth Amended Chapter 11 Plan which was confirmed on December 14, 2012, by the U.S. Bankruptcy Court for the District of Delaware in Wilmington.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “NewPageCorporation“