NewPage posts quarterly loss

By Joel Dresang
Milwaukee Journal Sentinel

Citing decreased demand and higher costs for energy, raw materials and transportation, papermaker NewPage Corp. this morning reported a net loss of $21 million for the second quarter, compared with breakeven the year before.

Sales grew to nearly $1.1 billion from $495 million in the second quarter of 2007, boosted by the company's acquisition of Stora Enso North America in December.

NewPage, based in Miamisburg, Ohio, is part of Cerberus Capital Management and has about 2,300 employees at operations in Wisconsin Rapids, Biron, Stevens Point and Whiting. To help absorb the Stora Enso operations and control costs, NewPage is closing mills in Niagara and Kimberly, which earlier this year had employed more than 900 workers combined.

NewPage is North America’s leading maker of coated paper used in printing magazines and catalogs. Executives are scheduled to discuss performance at 10 a.m. at the company's Web site under the heading Conference Call and Webcast.