SPOKANE, Wash.--(BUSINESS WIRE)--
Clearwater Paper Corporation (NYSE:CLW) announced today that it
has completed the sale of its Lewiston, Idaho, sawmill to Idaho Forest
Group of Coeur d'Alene, Idaho.
The transaction included the sale of Clearwater Paper's sawmill, planer
mill, dry kilns, and related assets along with log and finished goods
inventories and timber under contract, in the aggregate amount of
approximately $30 million. As part of the transaction, the two companies
have entered into a long-term residual fiber supply agreement with the
goal of delivering consistent supplies of chips and sawdust to
Clearwater Paper'sLewiston pulp mill from Idaho Forest Group mills.
ABOUT CLEARWATER PAPER
Clearwater Paper manufactures quality consumer tissue, away-from-home
tissue, hard roll tissue, machine glazed tissue, bleached paperboard and
pulp at 15 manufacturing locations in the U.S. and Canada. The company
is a premier supplier of private label tissue to major retailers and
wholesale distributors. This includes grocery, drug, mass merchants and
discount stores. The company also produces bleached paperboard used by
quality-conscious printers and packaging converters. Clearwater Paper's
employees build shareholder value by developing strong customer
partnerships through quality and service.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995 as
amended, including statements regarding the aggregate amount of the
transaction and the supply of wood fiber to Clearwater Paper. These
forward-looking statements are based on current expectations, estimates,
assumptions and projections that are subject to change, and actual
results may differ materially from the forward-looking statements.
Factors that could cause actual results to differ materially include,
but are not limited to, difficulties with the realization of the
benefits expected from the proposed transaction; general economic
conditions in the regions and industries in which Clearwater Paper and
Idaho Forest Group operate; changes in the cost and availability of wood
fiber used in the production of Clearwater Paper's products; changes in
the United States and international economies; cyclical industry
conditions; changes in freight costs and disruptions in transportation
services; unanticipated manufacturing disruptions; changes in general
and industry-specific laws and regulations; unforeseen environmental
liabilities or expenditures; labor disruptions; and other risks and
uncertainties described from time to time in the company's public
filings with the Securities and Exchange Commission. The forward-looking
statements are made as of the date of this press release and the company
does not undertake to update any forward-looking statements.
For additional information on Clearwater Paper, please visit our
website at www.clearwaterpaper.com
Clearwater Paper Corporation
News media
Matt Van Vleet,
509-344-5912
or
CFO
Linda Massman, 509-344-5905
or
Investors
Sean
Butson (IR Sense), 509-344-5906
Source: Clearwater Paper Corporation
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