Verso Paper reaches deal to sell Sartell plant

Author:
BMTN Staff
Updated:
Mar 8, 2018
Original:
Jan 29, 2013

Memphis, Tenn.-based Verso Paper Corp. announced Tuesday it plans to sell its damaged mill in Sartell to AIM Development, the St. Cloud Times reports. Terms of the deal were not disclosed.

The newspaper also says Verso does not plan to "issue a news release or make any other public statement regarding the transaction except as may be required by law.”

Sartell's city administrator told the St. Cloud Times she was also just notified about the sale on Tuesday and didn't have any additional information.

Verso was fined nearly $40,000 last month by the Occupational Safety and Health Administration for safety violations that led to a deadly explosion that killed one worker and injured four others last Memorial Day.

The company decided in August that it would not reopen the central Minnesota plant, leaving about 260 people out of work.

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Gov. Mark Dayton plans to call a special legislative session in late July or August to respond to flood damage in northeast Minnesota. The St. Cloud Times reports Dayton has indicated he's also interested in providing state aid for the Verso Paper mill following an explosion and fire on Memorial Day. One worker was killed, four others were injured and most of the 250 workers have been laid off from the Sartell plant.

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.

Verso Paper Corp. on Monday paid the city of Sartell in full – about $398,000 – for its response to a Memorial Day fire that ultimately led to the permanent closing of the company's paper plant, the St. Cloud Times reports. There were 92 agencies from across the state that helped fight the blaze and 68 of those sought repayment.

Officials from Verso Paper told the St. Cloud Times the majority of its 260 workers have been given layoff notices following the deadly Memorial Day explosion and fire. The incident killed one person and injured four others. The central Minnesota plant is likely to remain idle for several months to complete necessary repairs.

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