Spokane Washington, USA, 28 November 2011 -- (BUSINESS WIRE) -- Clearwater Paper Corp. (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 USD 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.
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 United States 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 printers and packaging converters. Clearwater Paper's employees build shareholder value by developing strong customer partnerships through quality and service.