Officials with Verso on Wednesday announced that the company would close the Bucksport paper mill by year's end, citing a lack of profitability.

"The Bucksport mill unfortunately has not been profitable for a number of years, in spite of our employees' dedicated efforts to make it so. Our assessment indicates that it is impossible for the mill to achieve profitability in today's marketplace," said Verso President and Chief Executive Officer, Dave Paterson in a news release.

"This decision is especially difficult because of the significant impact that the closure of the Bucksport mill will have on many people across the region, especially our long-serving and hard-working employees and their families," said Verso Senior Vice President of Manufacturing and Energy, Lyle Fellows, in the release.

About 570 workers are expected to lose their jobs.

The release goes on to say that Verso will work with union officials and salaried employees concerning severance benefits and other assistance. Officials said they also will work with local and state officials to help the affected employees find alternative employment opportunities.

Maine Gov. Paul LePage said he learned of the closure Wednesday afternoon, and had called an emergency meeting with his economic development team. He said the team would work with Verso and other interested parties in order to keep the mill open.

"We will assess any and all options as we move forward," said LePage, who will be in the Bangor region Thursday to address the situation.