DAYTON, Ohio, May 2 -- NewPage Corporation announced today that it will begin operating as an independent company focused solely on the coated and carbonless paper business. This follows the MeadWestvaco announcement of the Papers Group sale to Cerberus Capital Management L.P., a private, New York-based investment firm.
NewPage has five fully integrated pulp and paper mills in the eastern United States, supported by 6,300 employees. It made nearly 2.5 million tons of paper last year and generates about $2.3 billion in annual sales.
"NewPage is starting from a position of strength as demonstrated from our long company history and solid foundation," said Peter H. Vogel, Jr., the company's President and CEO. "Today, we're the largest coated and carbonless paper producer in North America and we plan to hold that position. We are highly energized by the tremendous potential of NewPage - our product lines are world-class and we have the best customer service and employees in the industry."
The NewPage leadership team has is:
* Peter H. Vogel, Jr., President and Chief Executive Officer
* Mark A. Suwyn, Chairman of the Board
* Charles J. Aardema, Vice President, Human Resources and Communications
* Daniel A. Clark, Chief Information Officer and Vice President of Order Management
* Matthew L. Jesch, Vice President and Chief Financial Officer
* George F. Martin, Vice President of Coated Operations
* Michael L. Marziale, Vice President and General Manager of Carbonless Systems
* James C. Tyrone, Senior Vice President of Coated Sales and Marketing
While Mark Suwyn is new in his position as chairman of NewPage Corporation, he has a long tenure of leadership experience in the paper industry. The balance of the leadership team is transitioning into NewPage from their prior roles in the MeadWestvaco Papers Group.
Vogel added, "We have an excellent team in place and are creating new opportunities for our employees to excel and succeed. Our customers will continue to receive the same high-quality products and services they've come to expect, and we are committed to the communities where we live and work. We believe we are well positioned for success and look forward to making NewPage prosper and grow."
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