Verso Corporation announced Wednesday it will permanently shut down its No. 3 paper machine at its Androscoggin Mill, impacting 120 employees.The mill will reduce its paper production by about 200,000 tons, the company said. The machine has not been operating since January due to declining demand."Verso is leaving no stone unturned in our efforts to move the company toward sustained profitability in a market where customer demand for our graphic paper products continues to decline," Verso Chief Executive Officer B. Christopher DiSantis said in a statement "Consistently matching the supply of our graphic paper products with customer demand for them, dramatically reducing our costs and rapidly diversifying our product portfolio into growing markets are essential keys to Verso's future success, and we're relentlessly pursuing all three across the company. Although the footprint of the Androscoggin Mill is getting smaller, we continue to take steps to position the facility as a leading producer for the growing specialty papers market."Affected employees will receive severance, company leaders said.Verso laid off about 190 employees last year when it idled the No. 3 papermachine. Verso laid off 300 workers at the Androscoggin Mill in 2015.

Verso Corporation announced Wednesday it will permanently shut down its No. 3 paper machine at its Androscoggin Mill, impacting 120 employees.

The mill will reduce its paper production by about 200,000 tons, the company said. The machine has not been operating since January due to declining demand.

"Verso is leaving no stone unturned in our efforts to move the company toward sustained profitability in a market where customer demand for our graphic paper products continues to decline," Verso Chief Executive Officer B. Christopher DiSantis said in a statement "Consistently matching the supply of our graphic paper products with customer demand for them, dramatically reducing our costs and rapidly diversifying our product portfolio into growing markets are essential keys to Verso's future success, and we're relentlessly pursuing all three across the company. Although the footprint of the Androscoggin Mill is getting smaller, we continue to take steps to position the facility as a leading producer for the growing specialty papers market."

Affected employees will receive severance, company leaders said.

Verso laid off about 190 employees last year when it idled the No. 3 papermachine. Verso laid off 300 workers at the Androscoggin Mill in 2015.