Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Verso Corp    VRS   US92531L1089

VERSO CORP (VRS)

6
SummaryQuotesChartsNewsCalendarCompanyFinancials 
News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

Verso : Rep. Nolan Applauds ITC Vote to Continue Investigation on Supercalendered Paper from Canada

04/16/2015 | 12:01am US/Eastern

[WASHINGTON, D.C.] U.S. Rep. Rick Nolan today applauded the U.S. International Trade Commission (ITC) decision to continue the investigation of the illegal dumping of subsidized supercalendered paper from Canada. This decision will directly affect the Verso Corporation in Duluth that owns the Duluth paper mill, providing more than 285 good-paying jobs in the area and producing 270,000 tons of supercalendered paper annually - the same type of paper benefitting from Canadian government subsidies.

On February 26, 2015, the Department of Commerce received a countervailing duty petition concerning imports of supercalendered paper from Canada, filed on behalf of the Coalition for Fair Paper Imports. The Coalition for Fair Paper Imports includes the Verso Corporation. On April 2, 2015, Rep. Nolan sent a letter to ITC Chairwoman Meredith Broadbent sharing his concerns regarding imports of supercalendered paper from Canada and the effect this illegal dumping has on the Duluth paper mill.

The next step is for this case to go on the Department of Commerce for further investigation.

"I am pleased to see the ITC make the right decision in this case," Rep. Nolan said. "Illegal dumping has damaged so many industries within the U.S. marketplace - often causing irreparable damage. Today's decision is a step in the right direction and will protect many good-paying jobs in Duluth."

Next, the Department of Commerce's International Trade Administration (ITA) will investigate and make their preliminary determination as to whether illegal Canadian subsidies exist. If an affirmative determination is made, the ITA will estimate a subsidy margin and direct U.S. Customs and Border Protection to delay the final computation of all duties on imports of the supercalendered paper until the case is resolved and to require the posting of appropriate securities to cover the duties and the subsidy margin for each subsequent entry into the U.S. market.

Read this original document at: http://nolan.house.gov/media-center/press-releases/rep-nolan-applauds-itc-vote-to-continue-investigation-on-supercalendered

(c) 2010 Federal Information & News Dispatch, Inc., source Federal Documents

React to this article
Latest news on VERSO CORP
04/16 VERSO : Rep. Nolan Applauds ITC Vote to Continue Investigation on Supercalendere..
03/27 VERSO : Judge finds man who held Verso employees hostage didn't violate probatio..
03/25 VERSO : Regulation FD Disclosure (form 8-K)
03/23 VERSO : Financial Statements and Exhibits (form 8-K/A)
03/16 VERSO : Introduces New Coated Web Product Lineup
03/11 VERSO : Project Uncovers Vernal Pools on Michigan State Forest Lands
03/09 VERSO : Union says shuttered Bucksport mill owes members money
03/06 VERSO : officials: Merger creates stronger company
03/06 VERSO : Results of Operations and Financial Condition (form 8-K)
03/06 VERSO : reports 4Q loss
Advertisement
Chart
Duration : Period :
Verso Corp Technical Analysis Chart | VRS | US92531L1089 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF