Displaying items by tag: Clearwater Paper

Clearwater Paper Corporation has announced  that Gordon Jones, chairman and CEO, andLinda Massman, president, COO, and CFO will present at the Vertical Research Partners Paper & Packaging Conference on Thursday, March 8, at10:45 AM EST. A live audio webcast of the presentation and accompanying slide materials will be accessible via Clearwater Paper's investor relations section of the company's website at http://ir.clearwaterpaper.com/events.cfm. An audio replay of the webcast will be available at the site for 90 days.

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.

For additional information on Clearwater Paper, please visit our website at www.clearwaterpaper.com.

Clearwater Paper Corporation has announced 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's Lewiston 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 has announced the company has entered into an agreement to sell its Lewiston, Idaho, sawmill to Idaho Forest Group of Coeur d'Alene, Idaho.

The transaction includes 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's Lewiston pulp mill from Idaho Forest Group Mills.

"This has been a very careful and thoughtful decision for everyone at the company," said Tom Colgrove, president of pulp and paperboard at Clearwater Paper. "We believe that this is the best possible outcome for the mill and its continued operation in the region, our company and our shareholders."

Clearwater Paper is expected to ramp down production in the coming weeks in preparation for Idaho Forest Group to officially take possession in the fourth quarter of 2011. Clearwater Paper's approximately 250 affected employees will receive severance and all provisions subject to the WARN Act, which includes up to 60 days' worth of pay and benefits.

"We believe the tough times in the lumber industry will continue into the foreseeable future, and that the mill will be operated by a company whose core focus is lumber," said Colgrove. "We believe IFG has the people, resources and the business structure to make the Lewiston sawmill very successful."

Upon closing of the transaction, Idaho Forest Group plans to adjust production to meet its customer needs. At the same time, Idaho Forest Group will begin assessing employment needs and should initiate the hiring process soon after the close of the transaction. Longer term, Idaho Forest Group will assess the mill's capabilities and prepare an improvement plan for implementation.

"We are very excited about the prospects of updating and revitalizing the Lewiston sawmill," said Scott Atkison, president of Idaho Forest Group. "The mill and its location in the LC Valley and surrounding wood basket give us the ability to better supply our customers with the products they need, both now and into the future."

Clearwater Paper is working closely with the Idaho Department of Labor and the Governor's Dislocated Workers Task Force to assist employees.

Clearwater Paper Corporation has announced that it will host its third quarter 2011 financial results conference call on Thursday, October 27, 2011, at 8 a.m. Pacific Time (11 a.m. Eastern Time). The company will issue its financial results before the market opens the same day.

Investors may access the conference call by dialing 877-303-9241 (for US/Canada investors) or 760-666-3575 (for international investors). The audio webcast may be accessed on the company's website at http://ir.clearwaterpaper.com/events.cfm.

An accompanying presentation will be available for downloading from http://ir.clearwaterpaper.com/events.cfm before the market opens. The webcast will be audio only. Investors are recommended to download the accompanying presentation prior to the call.

For those unable to participate in the call, an archived recording will be available through Clearwater Paper's Web site at www.clearwaterpaper.com under "Investor Relations" following the conference call.

For additional information on Clearwater Paper, please visit our website at www.clearwaterpaper.com.

Clearwater Paper Corporation announced that Gordon Jones, chairman, president and CEO, and Linda Massman, senior vice president and CFO, will be presenting at the Oppenheimer 6^th Annual Industrials Conference on Tuesday, September 27, 2011, at 8:00 AM EDT. A live audio webcast of the presentation and accompanying slide materials will be accessible via Clearwater Paper's investor relations section of the company's website at http://ir.clearwaterpaper.com/events.cfm. An audio replay of the webcast will be available at the site for 90 days.

Clearwater Paper Corporation (NYSE:CLW) announced today that Gordon Jones, chairman, president and CEO, and Linda Massman, senior vice president and CFO, will be presenting at the Jefferies 2011 Global Industrial and A&D Conference on Tuesday, August 9, 2011, at 3:30 PM EDT. A live audio webcast of the presentation and accompanying slide materials will be accessible via Clearwater Paper's investor relations section of the company's website at http://ir.clearwaterpaper.com/events.cfm. An audio replay of the webcast will be available at the site for 90 days.

ABOUT CLEARWATER PAPER

Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, hard roll tissue, machine glazed tissue, bleached paperboard, pulp and wood products 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 more than 4,000 employees build shareholder value by developing strong customer partnerships through quality and service.

For additional information on Clearwater Paper, please visit our website at www.clearwaterpaper.com.

Clearwater Paper acquired Cellu Tissue Holdings, Inc. on December 27, 2010. The first quarter of 2011 is the first full period in which Cellu Tissue's results have been included in the company's financial statements, which inclusion represents the primary reason for many of the variances in the first quarter of 2011 compared to first quarter 2010 results.

The company reported net earnings of $5.6 million, or $0.47 per diluted share, for the first quarter of 2011, compared to net earnings of $0.5 million, or $0.04 per diluted share, for the first quarter of 2010.

The first quarter 2011 results include a net tax charge of $1.9 million, or $0.16 per diluted share, related to a mixture of discrete tax items and also an $11.4 million pre-tax charge, or $0.62 per diluted share, for scheduled major maintenance costs. The first quarter 2010 results included a one-time net tax charge of $4.4 million, or $0.37 per diluted share, resulting from the passage of the Patient Protection and Affordable Care Act of 2010 and also scheduled pre-tax major maintenance costs of $16.9 million, or $0.95 per diluted share.

The first quarter 2011 earnings before interest, taxes, depreciation and amortization, or EBITDA, was $41.7 million compared to $22.4 million in the first quarter of 2010.

"We are on schedule and on budget with the build out of our tissue facilities at Shelby, North Carolina," said Gordon Jones, chairman, president and chief executive officer. "The converting equipment and warehousing is being brought up to speed and we are continuing work related to the paper machine.

"We also continue to make very good strides with the integration of Cellu Tissue," said Jones. "Our people, operations and businesses are working very well together.

"As a result of the integration, we expect synergies to partially offset some of the higher pulp and transportation costs we have been experiencing in our tissue business, and we have announced our intention to raise tissue prices to help further offset these cost increases.

"Despite the cost challenges, we remain positive about both of our segments for the rest of 2011," concluded Jones.

Source: Clearwater Paper Corporation