NewPage Enters Chapter 11 Restructuring Process

On August 22, NewPage announced that it would take downtime at NewPage Port Hawkesbury Corp. due to market and economic conditions that had prevented it from profitably operating the mill for more than a year. NewPage Port Hawkesbury Corp. plans to use funds arising from its Settlement and Transition Agreement to continue a “hot idle” at the mill and preserve the value of its assets while it continues discussions with potential buyers.