CMP Buys IP’s Coated Papers Business

CMP Holdings, a subsidiary of Verso Paper Holdings, has completed the previously announced acquisition of International Paper’s coated and supercalendered papers business for approximately $1.4 billion.

The coated and supercalendered business includes four paper mills, located in Jay, Maine; Bucksport, Maine; Quinnesec, Mich.; and Sartell, Minn.

Verso Paper Holdings, an affiliate of Apollo Management L.P., is a leading supplier to the North American magazine publishing and catalog markets. The company annually produces approximately 1.7 million tons of coated groundwood, coated freesheet and supercalendered papers and had $1.6 billion in sales in 2005. Its brands include Advocate, Influence, Liberty, Savvy, Trilogy and Velocity. Headquartered in Memphis, Tenn., Verso Paper employs approximately 3,000 people.