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Paper manufacturer NewPage Corp. seeks to continue operations and provide wages and benefits to its 6000 employees as part of a Chapter 11 bankruptcy filing made yesterday in Delaware.
In the filing, NewPage lists $3.4 billion in assets and $4.2 billion in debt as of June 30. "We strongly believe that the court-supervised restructuring we began today is the most effective means of strengthening our financial position and enhancing our standing as the leading producer of printing and specialty paper in North America," President and CEO George F. Martin said in a press release.
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