Clearwater Paper Suspends Idaho Operations Due to Regional Natural Gas Pipeline Incident

Rhea-AI Summary

Clearwater Paper Corporation (NYSE: CLW) temporarily suspends manufacturing operations at its Lewiston, Idaho facility due to a natural gas disruption. President Arsen Kitch emphasizes employee safety and asset maintenance while awaiting pipeline repairs, expecting operations to resume soon.

SPOKANE, Wash.--(BUSINESS WIRE)-- Clearwater Paper Corporation (NYSE: CLW), a premier supplier of quality tissue and bleached paperboard products, today reported that it temporarily suspended certain manufacturing operations at its Lewiston, Idaho facility. An incident impacting the regional natural gas system has resulted in the disruption of natural gas deliveries to the mill and the surrounding areas.

“We are focused on the safety of our employees and maintaining our assets while we wait for repairs on the gas pipeline to be completed,” said Arsen Kitch, president and chief executive officer. “We expect to resume the impacted operations in the coming days.”

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 curtailment of production and resumption of operations at the company’s Lewiston, 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 company does not undertake to update any forward-looking statements based on new developments or changes to the company’s expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231109478171/en/

Investor contact:



Sloan Bohlen

Solebury Strategic Communications

509-344-5906

investorinfo@clearwaterpaper.com



Media contact:



Jules Joy

Director, Corporate Communications

509-344-5953

Julia.joy@clearwaterpaper.com

Source: Clearwater Paper Corporation

FAQ

What happened to Clearwater Paper Corporation (NYSE: CLW) in Lewiston, Idaho?

The company temporarily suspended certain manufacturing operations at its facility due to a disruption in natural gas deliveries caused by an incident impacting the regional natural gas system.

Who is leading Clearwater Paper Corporation (NYSE: CLW)?

Arsen Kitch, the president and chief executive officer, is leading the company.

What is the expected outcome of the situation at Clearwater Paper Corporation (NYSE: CLW) in Lewiston, Idaho?

The company expects to resume the impacted operations in the coming days after repairs on the gas pipeline are completed.