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Ohio-based paper company files for Chapter 11
Ohio paper producer NewPage Corp. files for Chapter 11 bankruptcy protection, restructuring
By The Associated Press

MIAMISBURG, Ohio (AP) ' Paper producer NewPage Corp. says it is seeking Chapter 11 bankruptcy protection while it restructures.

The Ohio-based company said Wednesday that it expects to continue operating its U.S. business as usual and has commitments for $600 million in financing led by J.P. Morgan. A statement from NewPage's Miamisburg headquarters says it expects to emerge as a financially stronger company.

The company has 6,923 employees nationwide.



At the end of last year, NewPage reported more than $3 billion in debts, and a net loss of $656 million for 2010.

The statement says the company has filed in federal bankruptcy court in Delaware.

NewPage makes coated paper used in magazine and catalogs.

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Online:

http://www.newpagecorp.com


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