NewPage to Trim 150,000 tons of Capacity in Q1 '09
Jan. 10, 2009 - NewPage Corp. yesterday said that it plans to take approximately 150,000 tons of market-related downtime during the first quarter of 2009.
Specific operating and curtailment plans as well as timing will be developed across the company's mills to best satisfy customer commitments, NewPage said.
"We continue to operate in a very challenging economy and marketplace. In 2009, we will maintain our strong commitment to run our operations in the most efficient way possible as we balance our production to consumption," said Rick Willett, president and chief operating officer for NewPage.
"Based on our estimates of market demand and inventory levels, this downtime is needed to help maintain that balance," he added.
NewPage is headquartered in Miamisburg, Ohio and is the largest coated paper manufacturer in North America, based on production capacity. The company's product portfolio includes coated freesheet, coated groundwood, supercalendered, newsprint and specialty papers. These papers are used for corporate collateral, commercial printing, magazines, catalogs, books, coupons, inserts, newspapers, packaging applications and direct mail advertising.
NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan, Minnesota, Wisconsin and Nova Scotia, Canada. These mills currently have a total annual production capacity of approximately 4.5 million tons of paper, including approximately 3.3 million tons of coated paper, approximately 900,000 tons of uncoated paper and approximately 300,000 tons of specialty paper.
SOURCE: NewPage Corp.