NewPage Corporation
From Wikipedia, the free encyclopedia
NewPage Corporation, formerly West Virginia Paper Company or Westvaco, was established in 1888 by William Luke on 50 acres (202,000 m²) of land along the Potomac River, known as "West Piedmont" (now Luke, Maryland). The company remains a major economic factor in the area and now straddles the river into Beryl, West Virginia and Piedmont, WV.
In 2005, the original Luke Plant and the rest of MeadWestvaco's Printing and Writing Paper business were sold to investment firm Cerberus Capital Management for about $2.3 billion to form NewPage Corporation. NewPage makes label, book, catalog and magazine papers, and business forms. NewPage as originally constituted had five pulp and paper manufacturing in Kentucky, Maine, Maryland, Michigan, and Ohio. In February 2006, NewPage announced a definitive agreement to sell their Ohio operations for $80 million to global specialty papermaker P. H. Glatfelter Corporation, based in York, Pennsylvania. The sale and asset transfer was finalized in April 2006.
