NEW PAGE GOING PUBLIC
Wednesday, May 7th, 2008 -- 2:48 PM
The company which bought Wisconsin-based Stora Enso North America last year plans to go public.New Page has filed plans to sell common stock through an initial public offering (IPO).
They haven't set a date or a price for the sale.
NewPage, with headquarters in Miamisburg, Ohio, is North America's leading producer of coated paper used in magazines, high-end advertisements, and corporate annual reports.
Its 25 paper machines at 12 mills in six states and Nova Scotia include operations in Wisconsin Rapids, Biron, Stevens Point, Whiting, Kimberly, and Niagara.
In its filings, NewPage said it would use proceeds from a public offering to pay off debt. It said it has no intentions to pay cash dividends on its common stock.
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