Verso completes sale of Maine mill as part of $400M deal

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JAY, Maine (AP) A paper company announced it has completed the sale of its Maine mill as part of a $400 million deal.

The Bangor Daily News reports Ohio-based Verso Corp. sold its Androscoggin Mill in Jay to Pixelle Specialty Solutions.

The company had received its final approval last month when its shareholders met in New York to vote on the sale at the company's stockholder meeting.

The deal with Pennsylvania-based Pixelle was revealed in November following Verso's unveiling of a plan to invest $120 million in three mills, including the one in Jay.