Verso Paper collects $40M in advance insurance settlement - Bring Me The News

Verso Paper collects $40M in advance insurance settlement

Verso Paper Corp. says it has received about $40 million in insurance money after the explosion and fire that killed one worker and injured four other employees in Sartell, Minn., on Memorial Day, the St. Cloud Times reports. The company expects to collect an additional $44 million settlement.
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Verso Paper Corp. says it has received about $40 million in insurance money after the explosion and fire that killed one worker and injured four other employees in Sartell, Minn., on Memorial Day, the St. Cloud Times reports. The company expects to collect an additional $44 million settlement.

KSTP reports the company has paid about $16.3 million in severance and benefits to some of the roughly 260 displaced workers.

In August, Verso Paper decided against reopening the Sartell plant. A company executive said the mill had not been competitive in recent years. The future for the site is still unclear.

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