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NewPage Files For Chapter 11 Bankruptcy

September 8th, 2011 by WCBC Radio

After weeks of speculation, NewPage, the corporation that owns the Luke paper mill, has confirmed that it was has filed for Chapter 11 bankruptcy in the U.S. and under similar laws in Canada.  NewPage President and CEO George Martin said that the company “fully expects to continue to operate its U.S. businesses as usual” and that a financial restructuring will be best for the company’s long term interests. NewPage has said that the Luke plant will remain in operation during bankruptcy.  In an interview with WCBC News shortly before news of a possible bankruptcy surfaced, Luke public relations manager Patsy Koontz said that despite the sluggish economy; stiffer regulations and greater competition in the paper producing market- the local operation was in a strong position…

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