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verso jay mill

Started by snowstorm, November 16, 2015, 12:39:24 PM

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snowstorm

verso contemplating bankruptcy  sale of jay mill. same old story we cant make any money so lets file chapter 11. they already closed the wickliffe ky mill. they are also looking at stevens point and duluth

deastman

Doesn't sound good for the mill to stay operating. Talked to one of AFM's big contractors the other day and he said 90% of his wood goes to Jay, I think he's a little nervous about what happens with Verso. Heard a rumor that Expera is looking at buying Jay,but if they can't make a go of it with the Old Town mill how are they going to make Jay profitable? And I dont think SAPPI is going to be able to use all of the wood going to Verso if they shut down.
Samsung 130 LCM-3 with Fabtek 4-roller and Cat 554 forwarder, Cat EL 180 excavator, Cat D3C dozer, Cat D7E dozer, '92 Ford LTL 9000 dump, Easy-2-Load 25 Ton tag-a-long, current project under construction: '91 Peterbilt 379 with a Hood 8000 w/extenda-boom loader

snowstorm

it was better when paper mills were owned by paper companies not wall street investment companies

Woodhauler

Quote from: deastman on November 16, 2015, 08:06:30 PM
Doesn't sound good for the mill to stay operating. Talked to one of AFM's big contractors the other day and he said 90% of his wood goes to Jay, I think he's a little nervous about what happens with Verso. Heard a rumor that Expera is looking at buying Jay,but if they can't make a go of it with the Old Town mill how are they going to make Jay profitable? And I dont think SAPPI is going to be able to use all of the wood going to Verso if they shut down.
I spoke with sappis wood buyer Monday, He said he wasn't looking to take on any new wood suppliers! They have all the wood they need with out taking on any overflow from verso. Bad thing to say but I hope he holds to his word and keeps us guys going that have supplied sappi for years.If verso closes, hundreds of logging jobs will be lost, and many guys will go bankrupt too!
2013 westernstar tri-axle with 2015 rotobec elite 80 loader!Sold 2000 westernstar tractor with stairs air ride trailer and a 1985 huskybrute 175 T/L loader!

Peter Drouin

A&P saw Mill LLC.
45' of Wood Mizer, cutting since 1987.
License NH softwood grader.

wfcjr

Quote from: snowstorm on November 16, 2015, 12:39:24 PM
verso contemplating bankruptcy  sale of jay mill. same old story we cant make any money so lets file chapter 11. they already closed the wickliffe ky mill. they are also looking at stevens point and duluth

What's the issue here?  Is it a fundamental issue of profitability for their products, or is the result of a debt overhang from their recent $1.4bn acquisition?

grassfed

QuoteWhat's the issue here?

The huge rise in the US dollar kills US manufacturing in a global economy. Politicians like a strong dollar because it keeps inflation masked. Marginal manufacturing companies topple first since they have the most debt to service. Add to this retirees and pension funds lobbying for higher interest rates for low risk investments (higher interest rates =stronger dollar) and you have the recipe for the demise of domestic manufacturing in the USA.
Mike

grassfed

So is Verso still taking wood at Jay right now?
Mike

snowstorm

Quote from: wfcjr on November 17, 2015, 07:18:38 AM
Quote from: snowstorm on November 16, 2015, 12:39:24 PM
verso contemplating bankruptcy  sale of jay mill. same old story we cant make any money so lets file chapter 11. they already closed the wickliffe ky mill. they are also looking at stevens point and duluth

What's the issue here?  Is it a fundamental issue of profitability for their products, or is the result of a debt overhang from their recent $1.4bn acquisition?
verso is pretty much owned by the applo group. do a little research on them. i did a while back they own a lot

barbender

I just heard on the radio that Verso is considering closing the Duluth, MN mill. I was kind of surprised, just for the fact that they just bought the mill from New Page within the last couple of years, and, this mill is very modern. The Verso mill and the UPM Blandin mill in Grand Rapids both have paper machines that were  built in the late 80's or early 90's, I can't remember exactly.  Our softwood pulp market will be extremely flooded if this goes through.
Too many irons in the fire

thecfarm

I see wood heading towards the mill,so I suppose they are still buying. I talked to the guy that logs my land and he not mention any stoppage. BUT knowing how companies run nowadays,they could of stopped buying today.  :(
It will be a mess when they do close down.
Model 6020-20hp Manual Thomas bandsaw,TC40A 4wd 40 hp New Holland tractor, 450 Norse Winch, Heatmor 400 OWB,YCC 1978-79

snowstorm

anyone around the dulth or stevens point verso mills hear anything about what might happen?

colincb183

I live about 25 miles from the Stevens Point mill, haven't heard many details but it sounds like it is going to be for sale as well.

jaygtree

i haven't heard anything on the local duluth news about verso closing.
i thought i was wrong once but i wasn't.   atv, log arch, chainsaw and ez boardwalk jr.

Woodhauler

Quote from: thecfarm on November 17, 2015, 11:33:08 AM
I see wood heading towards the mill,so I suppose they are still buying. I talked to the guy that logs my land and he not mention any stoppage. BUT knowing how companies run nowadays,they could of stopped buying today.  :(
It will be a mess when they do close down.
I went to rumford yesterday with a load, all the way from Newport to wilton I only met 2 empty trucks coming back from jay. These were trucks hauling company wood. From jay  to rumford I seen one loaded truck with 8 ft hardwood.
2013 westernstar tri-axle with 2015 rotobec elite 80 loader!Sold 2000 westernstar tractor with stairs air ride trailer and a 1985 huskybrute 175 T/L loader!

Woodhauler

Talked to a employee of verso Tuesday, he said they have buyers looking at jay mill this week! He said hopefully its a paper company not another investment group. He seemed confident it was a paper maker looking.
2013 westernstar tri-axle with 2015 rotobec elite 80 loader!Sold 2000 westernstar tractor with stairs air ride trailer and a 1985 huskybrute 175 T/L loader!

Offthebeatenpath

Here's to hoping. Thanks for the updates Woodhauler. If Jay closes, I may not be able to fire up the skidder this winter aside from a bit of firewood.
1985 JD 440D, ASV tracked skid steer w/ winch, Fecon grapple, & various attachments, Hitachi CG-30 tracked dump truck, CanyCom S25 crawler carrier, Volvo EC35C mini-ex, Kubota 018-4 mini-ex, Cormidi 100 self loading tracked dumper, various other little trail building machines and tools...

Firewood dealer

I hauled a load into Jay today and the softwood chip pile was down quite a bit. The hardwood chip pile was bursting its seams. When I got into the mill yard, there was a lot of softwood piled along road 1&2 and over on the other flume, there was a mountain of hard wood piled along road 3&4.
I don't know what all this means, that's just what I saw.

Escavader

It's not only gonna hurt you loggers,but also us softwood lumber mills who have always sent our wood chips there,if they close jay
Alan Bickford
Hammond lumber company/Yates American A20 planer with dbl profilers Newman feed table multiple saw trimmer destacker automatic stacking machine Baker resaw MS log corner machine  4 large capacity Nyles dehumidification kilns JCB 8000 lb forklifts woodmizer lt 15 and mp100 and blower

snowstorm

the latest rumor and it may be more fact than fiction. verso will file in jan or feb. and it will be all of verso not just the jay mill

Woodhauler

Quote from: snowstorm on December 03, 2015, 07:24:52 AM
the latest rumor and it may be more fact than fiction. verso will file in jan or feb. and it will be all of verso not just the jay mill
Buyers looking at jay mill again today, this makes 2-3 different groups now that have been looking. No names have been brought up though!
2013 westernstar tri-axle with 2015 rotobec elite 80 loader!Sold 2000 westernstar tractor with stairs air ride trailer and a 1985 huskybrute 175 T/L loader!

snowstorm

Quote from: Woodhauler on December 03, 2015, 07:34:39 AM
Quote from: snowstorm on December 03, 2015, 07:24:52 AM
the latest rumor and it may be more fact than fiction. verso will file in jan or feb. and it will be all of verso not just the jay mill
Buyers looking at jay mill again today, this makes 2-3 different groups now that have been looking. No names have been brought up though!
you know where my imfo comes from. i just read the email

millwright

My son works for the plant that supplies the steam and power for the Duluth plant. Everything they have heard has been bad.

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