MIAMISBURG, Ohio – Verso Paper Corporation is purchasing NewPage for $1.4 billion.

It includes the Escanaba Paper Mill in the Upper Peninsula as well as paper mills in Wisconsin and four other states. The sale was announced this morning. It comes about a year after NewPage emerged from Chapter 11 Bankruptcy. Verso made an attempt to acquire NewPage during the bankrupcy proceedings but the deal fell through. The company owns paper mills in Michigan, including the mill at Quinnesec and in Maine.

Verso’s president and chief executive officer said the aquisition of NewPage will create a stronger business that will be better positioned to compete in the global marketplace.

Verso has annual sales of $1.5 billion. NewPage has annual sales of $3.1 billion.

The sale is expected to close during the second half of 2014, pending regulatory approval.