PO BOX 17766 PORTLAND, MAINE 04112 207.358.

7000 AUTHORIZED BY THE CANDIDATE AND PAID FOR BY CUTLER FOR MAINE


PRESS RELEASE:
CUTLER ASKS VERSO CEO TO CONSIDER SALE OF BUCKSPORT MILLS POWER
GENERATING PLANT TO STATE OR LOCAL ECONOMIC DEVELOPMENT ENTITY

Portland, Maine Independent candidate for governor Eliot Cutler sent a letter to Verso
Paper Corp. CEO David Paterson today, asking him to consider the sale of the Bucksport
Mills power generating assets to the state or a local economic development entity if a
buyer cannot be found who will use them to operate the mill.

Calling Versos announcement last week that the Bucksport Mill would close December 1
devastating news for the workers and their families, the town of Bucksport and
surrounding communities, Cutler said: Our first response must be to do everything we
can to provide immediate assistance to the workers and help them through the winter, but
we also must start looking to a future for Bucksport that may or may not involve
papermaking.

Cutler, who met with workers and community members in Bucksport on Saturday, went
on to say: We can no longer think of these facilities, the towns in which they are located,
and the skilled employees that work in them as just paper mills. Instead, lets begin looking
at them as highly valuable assets and figure out what 21
st
century demand they can meet.

Along with the Bucksport Mills pool of highly skilled workers, Cutler noted that the
facility has a rail line, access to major highways and is located within a few miles of one of
Maines three major ports and with direct access to the open ocean. Most notable,
however, is the facilitys ability to generate 275MW of electricity in a power plant with a
178 MW gas-fired combustion turbine, a 72 MW steam turbine (fueled by gas, oil, biomass
and tires), and a 25 MW steam turbine (fueled by biomass).

In his letter to Paterson, Cutler asked that Verso continue to operate and maintain the
mills energy plant in good working order, not selling it to another buyer, unless it is a
buyer who will operate the paper mill.

Cutler noted that he has proposed establishing a Maine Energy Finance Authority (MEFA)
that would use state-backed bonds to provide low-cost capital for major energy
infrastructure projects and public-private partnerships. Cutler told Paterson that if he is
elected governor, and if it becomes apparent that there is no sound opportunity to
continue the operation of the paper mill, he will want to discuss a MEFA-backed purchase
of the energy plant.


PO BOX 17766 PORTLAND, MAINE 04112 207.358.7000 AUTHORIZED BY THE CANDIDATE AND PAID FOR BY CUTLER FOR MAINE

Under Cutlers proposal, MEFA and/or another public development entity would own and
oversee the operation of the plant, which could then provide low-cost electricity (at a
delivered price of as little as 4 cents/KWH), steam and heat to manufacturing and/or
agricultural users in an industrial and commercial development zone on the site of the mill.

I believe that the low-cost electricity, steam and process heat that the mills power plant
provides can be a major draw for new manufacturing jobs, and I hope that Mr. Paterson
and Verso will be willing to seriously consider the sale or transfer of the mills generating
assets to such a public entity. I have asked that they not sell off this generating capacity
until such a plan can be fully explored.

In addition, Cutler said the state should assist with development of a comprehensive
inventory of the job skills that exist in the area, the attributes of the plants location, and
the education and training and the research and development resources that exist in close
proximity to the mills location.

Finally, Cutler said that as governor he would create a watch list of every major
employer where a disruption, cutback or closure could have a disproportionately large
impact on any one community or region. We will meet with those employers and their
owners regularly, Cutler said. We will monitor the health of those companies and their
parent companies. And we will stay abreast of trends impacting the industries in which
they operate.

As governor, I will have failed miserably if a company like Verso shuts down a facility like
the Bucksport mill and my only response is that I was surprised or that I plan to hold a
summit, he said.



PO BOX 17766 PORTLAND, MAINE 04112 207.358.7000 AUTHORIZED BY THE CANDIDATE AND PAID FOR BY CUTLER FOR MAINE


October 6, 2014

David J. Paterson
President and Chief Executive Officer
Verso Paper Corp.
6775 Lenox Center Court
Suite 400
Memphis, TN 38115

Dear Mr. Paterson:

I appreciate your calling last week alerting me to your companys decision to close the Bucksport
mill. As you know, this news has devastated the workers and their families, Bucksport and
surrounding communities, and our entire state.

As state and local officials work with you and your company to figure out what happens next,
especially for your workers, I hope that Verso will preserve the mill for possible sale to another
operator.

I also am requesting that you continue to operate and maintain the mills energy plant in good
working order and not sell it to another buyer, unless it is a buyer who will operate the paper mill.

As a candidate for governor, I have proposed establishing a Maine Energy Finance Authority
(MEFA) that would use state-backed bonds to provide low-cost capital for major energy
infrastructure projects and public-private partnerships.

If I am elected governor next month, and if it becomes apparent that there is no sound opportunity
to continue the operation of the paper mill, I will want to discuss with you a MEFA purchase of the
energy plant. MEFA would own and oversee the operation of the plant, which would provide low-
cost electricity, steam and heat to manufacturing and/or agricultural users in an industrial and
commercial development zone on the site of the mill. In that way, and in concert with the mill sites
excellent workforce and road, rail, and water access, the Verso energy assets could provide
inexpensive and reliable energy to companies that can create new job opportunities for the
current employees of the mill and other Maine workers.

I want to pursue this concept as quickly as possible with you if I am elected. Whatever the reasons
for closing the Bucksport mill, I trust that Verso takes seriously its responsibilities to its workers
and to the Town of Bucksport and the State of Maine to aid in the regions transition to a new, 21
st

century economy. In that vein, I hope that you will be willing to seriously consider the sale or
transfer of the mills generating assets to a public entity and that you will not sell off this
generating capacity until such a plan can be fully explored.

Thank you for your consideration.



Eliot Cutler

PO BOX 17766 PORTLAND, MAINE 04112 207.358.7000 AUTHORIZED BY THE CANDIDATE AND PAID FOR BY CUTLER FOR MAINE


October 6, 2014 Press Conference
Eliots Remarks

The announcement last week that Verso Paper Corp. was closing its mill in Bucksport is
devastating news for the workers and their families, the town of Bucksport and
surrounding communities and the many small businesses that have relied on that mill for a
significant part of their revenue.

Our first response must be to do everything we can to provide immediate assistance to
the workers and help them through the winter. I trust our government is doing that, and I
will further those efforts as governor. But we also must start looking to a future for
Bucksport that may or may not involve papermaking.

It would great if a buyer can be found who will continue to operate the Bucksport mill as a
paper mill. But given the continued decline in demand for publishing papers and the fact
that Verso reports that it has been unable to turn a profit at Bucksport for the past six
years, that may be wishful thinking.

And if a buyer can be found and if it is someone who is seeking tax credits, loan
guarantees and other forms of state assistance we must do a better job vetting that
potential buyer than the state did in the case of Cate Street Capital and Great Northern.

The Bucksport mill did not fail because its workers didnt do their jobs well quite the
opposite. It failed because the demand for what it makes is rapidly declining, because
competition within and outside the United States for the remaining demand has
intensified greatly, and because the input costs have been too high .

As we look to the future in Bucksport as well as in Millinocket, East Millinocket, and Old
Town we can no longer think of these facilities, the towns in which they are located, and
the skilled employees that work in them as just paper mills and hope that someone will
come along and magically return them to their 20
th
century glory.

Instead, lets begin looking at them as highly valuable assets and figure out what 21
st

century demand they can meet.




PO BOX 17766 PORTLAND, MAINE 04112 207.358.7000 AUTHORIZED BY THE CANDIDATE AND PAID FOR BY CUTLER FOR MAINE

The Bucksport mill has a pool of highly skilled workers. It has a rail line and access to major
highways. It is located on the Penobscot River at the head of Penobscot Bay within a few
miles of one of Maines three major ports and with direct access to the open ocean. It is 22
miles from Bangor International Airport. And it has the ability to generate 275MW of
electricity in a power plant with a 178 MW gas-fired combustion turbine (back-up
capability to run on oil), a 72 MW steam turbine (fueled by gas, oil, biomass and tires), and
a 25 MW steam turbine (fueled by biomass).

I have sent a letter today to Verso President David Paterson asking that 1) that Verso
preserve the mill intact for possible sale to another company; and 2) that Verso continue
to operate and maintain the mills energy plant in good working order, not selling it to
another buyer, unless it is a buyer who will operate the paper mill.

In my candidacies for governor both in 2010 and in 2014, I have proposed establishing a
Maine Energy Finance Authority (MEFA) that would use state-backed bonds to provide
low-cost capital for major energy infrastructure projects and public-private partnerships.

In my letter, I told Mr. Paterson that if I am elected governor next month, and if it becomes
apparent that there is no sound opportunity to continue the operation of the paper mill, I
will want to discuss with him a MEFA-backed purchase of the energy plant.

MEFA and/or another public development entity would own and oversee the operation of
the plant, which could then provide low-cost electricity (at a delivered price of as little as 4
cents/KWH), steam and heat to manufacturing and/or agricultural users in an industrial
and commercial development zone on the site of the mill.

I believe that in concert with the mills other human and physical assets, Versos energy
generating capacity could provide inexpensive and reliable energy to companies that can
create new job opportunities for the current employees of the mill and other Maine
workers.

Just to give some sense of the scale of the opportunity in Bucksport, each year the Mill
now uses the equivalent of 14% of all the energy used by all residential customers in the
entire state of Maine including their electricity use, heating oil, propane, natural gas and
wood to heat their homes and gasoline for their cars. With respect to electricity alone, the
Mill generates more electricity each year than is consumed by the 150,000 residential and
business customers served by Bangor Hydro. And the annual process steam and heat
output has the energy value equivalent to 30 million gallons of heating oil.



PO BOX 17766 PORTLAND, MAINE 04112 207.358.7000 AUTHORIZED BY THE CANDIDATE AND PAID FOR BY CUTLER FOR MAINE

I believe that the low-cost electricity, steam and process heat that the mills power plant
provides can be a major draw for new manufacturing jobs, and I hope that Mr. Paterson
and Verso will be willing to seriously consider the sale or transfer of the mills generating
assets to such a public entity. I have asked that they not sell off this generating capacity
until such a plan can be fully explored.

In addition, the state should assist with development of a comprehensive inventory of the
job skills that exist in the area, the attributes of the plants location, and the education and
training and the research and development resources that exist in close proximity to the
mills location.

Finally, I want to commend the leaders of the town of Bucksport for doing what the state
has failed to do. They saw the danger signs, and they have been preparing for the day
when the mill might cut back or curtail operations altogether. This town of 5,000 people
has $8 million already has set aside in a rainy day fund that will help soften the blow.

Maine is in the midst of a continuing economic transition that will be painful and
challenging, but it is also one filled with opportunity and promise. We must manage this
transition well certainly better than we have and we need to see the handwriting on
the wall and read it.

As governor, I intend to create a watch list of every major employer where a disruption,
cutback or closure could have a disproportionately large impact on any one community or
region. We will meet with those employers and their owners regularly. We will monitor
the health of those companies and their parent companies. And we will stay abreast of
trends impacting the industries in which they operate.

As governor, I will have failed miserably if a company like Verso shuts down a facility like
the Bucksport mill and my only response is that I was surprised or that I plan to hold a
summit. Maine people and Maine workers cannot afford more surprises like this. Weve
had enough summit meetings and blue ribbon commissions. The reports are all on the
shelf, and we need a governor who has read them and understands them.

Like the town leaders in Bucksport, state government, starting with the Governors Office,
must be able to identify the warning signs and prepare for an uncertain future.




PO BOX 17766 PORTLAND, MAINE 04112 207.358.7000 AUTHORIZED BY THE CANDIDATE AND PAID FOR BY CUTLER FOR MAINE
I met with workers and community members in Bucksport on Saturday, something neither
of my opponents has taken the time to do even though they were both within 20 miles of
the plant last week for political events. And I met with workers community leaders and
citizens from the Katahdin Region in Millinocket in both April and September.
My heart aches for those people and what they are going through. Their pain has been a
wake-up call for the rest of Maine. In my travels around the state since the announcement
of the Great Northern bankruptcy and the Verso shutdown I have been struck by the
clarity that has come to Mainers across the state that we can take nothing for granted
anymore and that we must get to work creating a 21st century economy for our state.
I hope that my plan for using the generating assets of the Bucksport mill offers some hope
that we can create new jobs with the great resources that already exist there and that it
reinforces the notion that we have to think creatively, move quickly, and begin planning
for a new and brighter future.