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EX-99.1 - NEWS RELEASE - NewPage Holding CORPrrd305816_34489.htm

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  03/16/2011
 
Commission File
Number

Exact name of registrant as specified in
its charter; State or other jurisdiction of incorporation;
Address of principal executive offices;
and Registrant's telephone number including area code

IRS Employer
Identification
Number

001-32956
NewPage Holding Corporation
Delaware
8540 Gander Creek Drive
Miamisburg, Ohio 45342
877.855.7243
05-0616158
333-125952
NewPage Corporation
Delaware
8540 Gander Creek Drive
Miamisburg, Ohio 45342
877.855.7243
05-0616156

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
Item 1.01.    Entry into a Material Definitive Agreement
 
On March 16, 2011, Rumford Paper Company ("Rumford"), a wholly-owned subsidiary of NewPage Corporation, and Rumford Cogeneration Company Limited Partnership, a subsidiary of Rumford, both indirect subsidiaries of NewPage Holding Corporation, entered into an Asset Sale Agreement for the sale of Rumford's cogeneration energy assets to ReEnergy Rumford LLC ("ReEnergy") for a sale price of $61 million, payable one-half in cash at closing and one-half in the form of a 10-year note receivable. The transaction also contemplates an ongoing contractual relationship between the parties, pursuant to which Rumford will supply biomass fuel to ReEnergy and ReEnergy will supply electricity and thermal energy to Rumford. The transaction is not expected to have a material affect on the operating costs of the Rumford mill. We plan to invest the net cash proceeds in our business or use the proceeds to repay indebtedness, or both, in accordance with the terms of our debt instruments. The transaction, which is expected to close at the end of the second quarter of 2011, is subject to customary conditions, including the receipt of regulatory approvals and the finalization of agreements represented by term sheets.

A copy of the news release is attached as Exhibit 99.1.

 
 
Item 9.01.    Financial Statements and Exhibits
 
(d)        Exhibits

99.1        News Release dated March 17, 2011

 

 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
           
NewPage Holding Corporation
 
 
Date: March 17, 2011
     
By:
 
/s/    Douglas K. Cooper

               
Douglas K. Cooper
               
Secretary
 
 
           
NewPage Corporation
 
 
Date: March 17, 2011
     
By:
 
/s/    Douglas K. Cooper

               
Douglas K. Cooper
               
Secretary
 
 


 

EXHIBIT INDEX
 
Exhibit No.

  
Description

EX-99.1
  
News Release