Clearwater Paper Suspended Idaho Operations Due to Severe Weather Conditions
January 15 2024 - 7:20PM
Business Wire
Clearwater Paper Corporation (NYSE:CLW), a premier
supplier of quality tissue and bleached paperboard products,
announced that it has had to temporarily suspend its operations in
Lewiston, Idaho due to uncertainty in natural gas supply and damage
caused by extreme cold weather. The company is restarting equipment
and production at the facility as weather conditions permit.
“We are focused on the safety of our employees and protecting
our assets during this period of extremely cold temperatures in the
region,” said Arsen Kitch, president and chief executive officer.
“We are in the process of repairing equipment and resuming our
overall operations.”
The company expects to provide an update on the anticipated
impacts of the outage in a future announcement.
ABOUT CLEARWATER PAPER
Clearwater Paper is a premier supplier of private brand tissue
to major retailers, including grocery, club, mass merchants, and
discount stores. In addition, the company produces bleached
paperboard used by quality-conscious printers and packaging
converters, and offers services that include custom sheeting,
slitting, and cutting. Clearwater Paper’s employees build
shareholder value by developing strong relationships 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 suspension
of production and resumption of operations at the company’s Idaho
facility and the impacts on employees, assets and customers. These
forward-looking statements are based on current expectations 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 those risks and
uncertainties described in the company’s Annual Report on Form 10-K
for the year ended December 31, 2022, and other risks and
uncertainties described from time to time in the company’s other
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 based on new developments or changes in
the company’s expectations after the date of this press
release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240115497468/en/
Investor contact: Sloan Bohlen Solebury Strategic Communications
509.344.5906 investorinfo@clearwaterpaper.com
Media contact: Julia Joy Clearwater Paper Corporation
509.344.5953 julia.joy@clearwaterpaper.com
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