MEMPHIS, Tenn., Dec 07, 2009 (BUSINESS WIRE) -- Verso Paper Corp. (NYSE:VRS) announced today that the New York Stock Exchange has notified Verso that it has achieved compliance ahead of schedule with the NYSE's continued listing standards. The NYSE stated in the notice that its decision was based on Verso's consistent positive performance with respect to the business plan submitted to the NYSE in March 2009 and Verso's achievement of compliance with the NYSE's minimum market capitalization requirements over the past two quarterly review periods.
"We are happy to have achieved an early return to compliance with the NYSE's continued listing standards," said Mike Jackson, Verso's President and Chief Executive Officer. "We continue to strongly believe that our business strategy and operating principles will lead to positive results for Verso's stakeholders."
Based in Memphis, Tennessee, Verso Paper Corp. is a leading North American producer of coated papers, including coated groundwood and coated freesheet, and supercalendered and specialty products. Verso's paper products are used primarily in media and marketing applications, including magazines, catalogs and commercial printing applications such as high-end advertising brochures, annual reports and direct-mail advertising. Additional information about Verso is available on the company's web site at www.versopaper.com. References to "Verso" or the "company" mean Verso Paper Corp. and its consolidated subsidiaries unless otherwise expressly noted.
In this press release, all statements that are not purely historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "project," "plan," "estimate," "intend" and similar expressions. Specifically, all statements herein relating to Verso's future compliance with the NYSE's continued listing standards, future operating and financial performance, and future share price and market capitalization are forward-looking statements. Forward-looking statements are based on currently available business, economic, financial and other information and reflect management's current beliefs, expectations and views with respect to future developments and their potential effects on Verso. Actual results could vary materially depending on risks and uncertainties that may affect Verso and its business. For a discussion of such risks and uncertainties, please refer to Verso's filings with the Securities and Exchange Commission. Verso assumes no obligation to update any forward-looking statement made in this press release to reflect subsequent events or circumstances or actual outcomes.
SOURCE: Verso Paper Corp.
Verso Paper Corp.
Robert P. Mundy 901-369-4128
Senior Vice President and Chief Financial Officer
Copyright Business Wire 2009