By Joel Dresang
Milwaukee Journal Sentinel
Reporting results of its first full quarter since acquiring Wisconsin-based paper mills, NewPage Corp. announced improved earnings.
Net income for the Miamisburg, Ohio-based NewPage grew to $7 million from a loss of $20 million in the first quarter of 2007.
Sales more than doubled to $1.2 million for the first quarter of 2008 from $476 million the year before.
NewPage's acquisition of Stora Enso North America accounted for the bulk of sales growth, but the company also reported strong demand and increased sales prices for boosting performance.
NewPage is North America’s largest producer of coated paper used for printing catalogs and magazines. Its Wisconsin operations include mills in Wisconsin Rapids, Biron, Stevens Point, Whiting, Kimberly, and Niagara, although it plans to close the Niagara mill later this year.
Last week, NewPage filed paperwork for an initial public stock offering.
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