A Memphis-based company will be relocating its headquarters to Miami Twp., where it has 200 employees, it was announced today.
Verso Corp., a public company, said in a statement that the move is among three strategic initiatives designed to drive increased efficiency in the allocation of its resources, reduce the company’s cost of doing business, and improve Verso’s operating and financial performance.
The company, which acquired NewPage Holdings in 2014 for $1.4 billion, emerged from bankruptcy in July. Verso’s restructuring reduced the company’s debt by $2.4 billion and included $595 million in exit financing to support ongoing operations and capital investment.
Verso will be moving into what is the former headquarters for New Page at Gander Creek Drive in Miami Twp.
“We understand that the planned consolidation of Verso’s corporate offices will cause disruption in the lives of the Memphis office employees who make the move to Miamisburg and will create additional challenges for those who do not,” said Kenneth Sawyer, Verso’s senior vice president of Human Resources and Communications, in a release. “Verso is committed to treating all our Memphis office employees with fairness, dignity and respect and to quickly communicating openly and honestly with each person about how this decision will affect him or her.”
Verso employs 60 in Memphis.
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