Welcome to our dedicated page for Clearwater Paper Corporation news (Ticker: CLW), a resource for investors and traders seeking the latest updates and insights on Clearwater Paper Corporation stock.
Clearwater Paper Corporation (NYSE: CLW) is a leading manufacturer specializing in high-quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard, and pulp. With a network of manufacturing facilities across the United States, Clearwater Paper is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, mass merchants, and discount stores.
The company operates under two primary segments: the Consumer Products segment and the Pulp and Paperboard segment. The Consumer Products segment is known for its extensive range of at-home tissue products and away-from-home tissue products. The Pulp and Paperboard segment focuses on producing bleached paperboard for the high-end packaging industry, offering custom services such as sheeting, slitting, and cutting.
Clearwater Paper's products are essential for various applications, from household needs to high-quality packaging solutions. The company generates the majority of its revenue from its Pulp and Paperboard segment, with a significant portion of its sales coming from the United States market.
In recent news, Clearwater Paper announced a definitive agreement to acquire Graphic Packaging Holding Company's Augusta, Georgia bleached paperboard manufacturing facility. This $700 million transaction is expected to enhance Clearwater Paper's strategic growth plans and strengthen its position as a leading independent paperboard supplier in North America. The transaction is currently pending regulatory approvals and is anticipated to close in the second quarter of 2024.
Clearwater Paper's commitment to quality and service has enabled the company to build strong customer partnerships and create substantial shareholder value. The acquisition of the Augusta facility is a testament to the company's focus on expanding its capabilities and servicing its customers more effectively.
For more information about Clearwater Paper Corporation, please visit their official website at www.clearwaterpaper.com.
Clearwater Paper (NYSE: CLW) will invest $23 million in a state-of-the-art facial tissue converting line at its Shelby, North Carolina facility. This 400-acre site, which already produces private-branded bathroom tissue, paper towels, napkins, and facial tissue, employs over 600 people. The investment aims to meet rising customer demand, optimize operational efficiency, and maintain high-quality standards. The decision to expand in Shelby is influenced by its strategic location, skilled labor availability, and strong community relationships.
Clearwater Paper (NYSE: CLW) will participate in two upcoming investor conferences. On June 4, 2024, CEO Arsen Kitch will join a fireside chat at Stifel’s 2024 Cross Sector Insight Conference in Boston, starting at 9:45 a.m. ET. The event will be webcast live and accessible through the company's investor relations website. Kitch will also be available for one-on-one and small group meetings.
On June 11, 2024, CEO Arsen Kitch and CFO Sherri Baker will attend the 2024 Wells Fargo Industrials Conference in Chicago, where they will also participate in one-on-one and small group meetings with investors.
Clearwater Paper (NYSE:CLW) has successfully completed the acquisition of the Augusta, Georgia bleached paperboard manufacturing facility from Graphic Packaging International, The terms of the acquisition were announced on February 20, 2024. This strategic acquisition enhances Clearwater Paper's capabilities in paperboard manufacturing, positioning them as a leading independent paperboard supplier in North America.
Clearwater Paper reported financial results for the first quarter of 2024 with net sales of $496 million, down 6% from the same period last year. Despite lower input costs and continued strength in tissue, net income was $17 million, or $1.02 per diluted share, $7 million lower than last year. Adjusted net income was $24 million. The company reduced net debt by $33 million and repurchased $1 million of outstanding shares.
Clearwater Paper signed a definitive agreement to acquire a bleached paperboard manufacturing facility in Augusta, Georgia, for $700 million. The transaction is expected to close shortly. The company expressed confidence in continued tissue performance and a recovery in paperboard demand.
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