Business Description
Verso Corporation is the ultimate parent entity and the sole member of Verso
Paper Finance Holdings One LLC, which is the sole member of Verso Paper Finance
Holdings LLC, which is the sole member of Verso Paper Holdings LLC. As used
in this report, the term “Verso” refers to Verso Corporation; the
term “Verso Finance” refers to Verso Paper Finance Holdings LLC;
the term “Verso Holdings” refers to Verso Paper Holdings LLC; the
term “NewPage” refers to NewPage Holdings Inc., which is an indirect,
wholly owned subsidiary of Verso; the term “NewPage Corp” refers
to NewPage Corporation, which is an indirect, wholly owned subsidiary of NewPage;
and the term for any such entity includes its direct and indirect subsidiaries
when referring to the entity’s consolidated financial condition or results.
Other than Verso’s common stock transactions, Verso Finance’s debt
obligation and related financing costs and interest expense, Verso Holdings’
loan to Verso Finance, and the debt obligation of Verso Holdings’ consolidated
variable interest entity to Verso Finance, the assets, liabilities, income,
expenses and cash flows presented for all periods represent those of Verso Holdings
in all material respects. Unless otherwise noted, the information provided pertains
to both Verso and Verso Holdings.
We are the leading North American producer of coated papers, which are used
primarily in magazines, catalogs, high-end advertising brochures and annual
reports, among other media and marketing publications. We produce a wide range
of products, ranging from coated freesheet and coated groundwood, to inkjet
and digital paper, supercalendered papers, and uncoated freesheet. We also produce
and sell market kraft pulp, which is used to manufacture printing and writing
paper grades and tissue products.
We sell and market our products to approximately 300 customers which comprise
approximately 1,700 end-user accounts. We have long-standing relationships with
many leading magazine and catalog publishers, commercial printers, specialty
retail merchandisers, and paper merchants. Our relationships with our ten largest
coated paper customers average more than 20 years. We reach our end-users through
several distribution channels, including direct sales, commercial printers,
paper merchants, and brokers.
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1.04%