Verso paper

A paper mill that has stood on the banks of the Mississippi River for more than a century could soon be coming down. AIM Development bought the Verso Paper plant in Sartell after an explosion and fire last year.

An event is being planned for this Monday to observe the one-year anniversary of the explosion and fire at the Verso Paper Mill. The event will start at about 10:30 a.m. at Veterans Park, following the traditional Memorial Day Ceremony at 9:00 a.m.

The sale of the old Verso Paper Mill in Sartell has been finalized. American Iron and Metal based in Montreal now owns the large piece of property in Sartell.

The city of Sartell has received a nearly $400,000 check from the Verso Paper Company. City Administrator Patti Gartland says the check for just over $398,000 is full payment of the invoice sent to the company.

Area churches will collectively host a service in support of those who have been impacted by the closing of Verso Paper.

The permanent closures this month of the Verso paper mill in Sartell and the Georgia-Pacific hardboard plant in Duluth are compounding the troubles of Minnesota's logging industry. The state has lost about a third of its loggers in the past few years, leaving about 1,500 still operating.

The Minnesota Department of Public Safety State Fire Marshal has wrapped up their investigation into exactly what caused the Verso Paper Mill explosion on Memorial Day.

The Verso Paper Corporation is reporting a net loss of nearly $21 million in the second quarter. The company reported the financial results for the second quarter today (Thursday).

The closing of the Verso Paper mill will have a big impact on the city of Sartell and the rest of the St. Cloud metro area. But, the Greater St. Cloud Development Corporation's CEO John Kramer says the impact will also be felt in other areas around the state.

The job impact on the closing of the Verso Paper Mill in Sartell will be far more reaching than just the plants workers. St. Cloud State University economist King Banaian says the 259 jobs lost this week, combined with the 175 jobs that were cut at the plant last December, will result in about 680 job losses region-wide.