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NEWPAGE REPORTS LOSS
Tuesday, August 12th, 2008 -- 11:46 am
Posted by Riley Hebert-News Director
A major regional employer who has already made big cuts will now have to deal with more bad economic news.
Citing decreased demand and higher costs for energy, raw materials and transportation, papermaker NewPage Corp. this morning reported a net loss of $21-million for the second quarter.
Sales grew to nearly $1.1 billion from $495 million in the second quarter of 2007, boosted by the company's acquisition of Stora Enso North America in December.
NewPage has about 2,300 employees at operations in Wisconsin Rapids, Biron, Stevens Point and Whiting.
NewPage is closing mills in Niagara and Kimberly, which earlier this year had employed more than 900 workers combined.
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