Displaying items by tag: Clearwater Paper

2022 01 07 112457

Clearwater Paper Corporation (NYSE: CLW) has just introduced NuVo® withBioPBS™, a sustainable cup stock that provides foodservice operators with a compostable alternative to hot cups coated with low-density polyethylene.

NuVo® withBioPBS™ is the first cup stock to combine a compostable barrier, 35% post-consumer fiber, Forest Stewardship Council® (FSC®) chain-of-custody certification (FSC-C008402), and a high-definition print surface.

“When we launched the NuVo® brand in 2019, we made a promise to continually innovate to maximize product differentiation and sustainability. We are pleased to continue delivering on that commitment by introducing NuVo® withBioPBS™, a next-generation cup stock that we believe will allow our customers to be at the forefront of growing trends in sustainability,” said Steve Bowden, senior vice president and general manager of the pulp and paperboard division.

You can find additional information about NuVo® on the Clearwater Paper website at Clearwater Paper Corporation - Paperboard Products.

ABOUT BioPBS™

BioPBS™ is supplied to Clearwater Paper by Mitsubishi Chemical Corporation and PTTMCC Biochem Company Limited, a 50-50 joint venture between MCC and PTT Global Chemical Public Company Limited.

ABOUT CLEARWATER PAPER

Clearwater Paper is a premier supplier of private-branded tissue to major retailers, including grocery, drug, 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 product quality, attributes, and development; sustainability 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 from time to time in the company's 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.

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

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Clearwater Paper Corporation (NYSE: CLW) has announced the indefinite closure of its Neenah, Wisconsin facility, which includes three tissue machines and ten converting lines, removing a total paper production capacity of approximately 54,000 tons. Clearwater Paper intends to indefinitely close Neenah and exit the away from home business by the end of July 2021.

“Despite the best efforts of our dedicated employees, our Neenah location and assets cannot cost effectively compete in the markets that we serve,” said Arsen Kitch, president and chief executive officer. “This was a difficult decision, because it affects our people, their families and the Neenah community.”

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The facility’s approximately 290 employees will be impacted by the closure. “We are committed to supporting our people through this challenging time,” said Kitch. The company and the union will be meeting this week to discuss the impact on employees.

The company will work closely with the union and state employment agencies to assist impacted employees in receiving training, and other benefits that enable them to find new employment as quickly as possible. The company will also offer career assistance services to help employees through this difficult time.

Clearwater Paper acquired the Neenah mill in 2010 and produced private brand tissue products for commercial and retail customers at the mill.

ABOUT CLEARWATER PAPER

Clearwater Paper is a premier supplier of private brand tissue to major retailers, including grocery, drug, 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.

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Clearwater Paper Corporation (NYSE: CLW), a premier supplier of quality consumer tissue, away-from-home tissue, parent roll tissue and bleached paperboard, announced that it temporarily suspended its pulp and paperboard operation in Cypress Bend, Arkansas. The cold weather has resulted in the curtailment of natural gas deliveries to the mill as natural gas providers prioritize residential needs.

ClearwaterPaper logo01“We are focused on the health and safety of our employees, maintaining our assets, and working to meet customer needs during this unexpected outage,” said Arsen Kitch, president and chief executive officer. “We intend to resume operations as soon as we are safely able to do so.”

The company will provide an update on the anticipated impacts of the outage during its fourth quarter and full year 2020 earnings announcement, scheduled for Thursday, February 25.

ABOUT CLEARWATER PAPER

Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The company is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, 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.

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Clearwater Paper Corporation has just introduced ReMagine™, a folding carton paperboard brand with up to 30 percent post-consumer recycled fiber. Inspired by circular economy principles, ReMagine provides high definition print capability and superior converting performance. The new folding carton brand is now available to the company’s customers.

“We are excited to introduce ReMagine to our customers, with a quality standard that we believe stands apart from other folding carton options in the market,” said Steve Bowden, senior vice president and general manager of the pulp and paperboard division. “Our newly-branded ReMagine is an important part of Clearwater Paper’s value proposition, positioning our customers to address growing trends in sustainable packaging.”

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ReMagine is distinct, offering up to 30 percent post-consumer recycled fiber that is Food and Drug Administration compliant for all types of food contact. This new brand of solid bleached sulphate (SBS) provides an optimized balance of post-consumer recycled fiber and renewable virgin fiber, converting speed, and high definition print capability. The brand also offers Forest Stewardship Council® FSC-C008402 chain of custody certification.

For ReMagine, the company uses Sustana Fiber’s Envirolife™ 100% recycled fiber. It has similar characteristics to non-recycled hardwood pulp.

ReMagine is a brand promise that Clearwater Paper will continually evolve to provide customers innovative choices for the circular economy.

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Focused on Ensuring Continuous Operations to Serve Significant Increase in Demand

ClearwaterPaper logo01Clearwater Paper Corporation (NYSE: CLW), a premier supplier of quality consumer tissue, away-from-home tissue, parent roll tissue and bleached paperboard, has just shared an update on the company’s recent operations during the COVID-19 situation.

The health and safety of employees is a top priority, and Clearwater Paper is closely monitoring the rapidly evolving COVID-19 situation. The company is implementing a comprehensive risk mitigation plan across all facilities that includes enhanced sanitation procedures, sick leave, remote work options, travel restrictions, and visitor and meeting policies. In addition, Clearwater Paper is actively engaging with federal, state, and local government officials due to the essential and critical nature of its workforce and operations.

Clearwater Paper is also experiencing a significant increase in demand for its retail tissue products and an increase in demand for paperboard used for packaging food and pharmaceutical products. The company is focused on ensuring continuous operations to serve its customers’ demand for these essential goods. Clearwater Paper’s facilities are currently producing as usual.

Published in North American News
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Clearwater Paper Corporation (NYSE: CLW) has just introduced NuVo®, a new brand of cup stock paperboard that provides foodservice operators choice and differentiation through customized material to fit their specific brand needs. The newly-branded cup stock paperboard is now available to Clearwater Paper’s customers.

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“We are excited to introduce NuVo to our customers, with a quality standard that we believe stands apart from any other paperboard cup product in the market,” said Steve Bowden, senior vice president of the pulp and paperboard division. “Our newly-branded NuVo products are an important part of our plan at Clearwater Paper to offer innovative and sustainable solutions that fit the evolving needs of our customers.”

NuVo is distinct, offering an option of up to 32% post-consumer recycled fiber. Operators may also choose an enhanced surface technology which offers uniform and consistent ink coverage, a premium white shade and a high definition process print capability. The brand also offers Forest Stewardship Council (FSC®) chain of custody certification which helps operators show their commitment to sustainability.

NuVo is a brand promise that Clearwater Paper intends to continually evolve to provide customers innovative choices to maximize differentiation and sustainability.

ABOUT CLEARWATER PAPER

Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The company is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, 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 customer relationships through quality and service.

Source: Clearwater Paper Corporation

Published in North American News

Clearwater Paper Corporation (NYSE: CLW) has just announced a key divisional executive appointment. Effective October 1, 2018, Steve Bowden is named senior vice president and general manager of the pulp and paperboard division.

ClearwaterPaper logo01"Steve truly exemplifies our core values and brings to Clearwater Paper his extensive experience in the print, packaging, and paperboard manufacturing businesses,” said Linda K. Massman, president and chief executive officer. “I am confident that with Steve’s leadership, we will continue to strengthen our position as a leading manufacturer of high-quality paperboard while continuing our focus on operational efficiencies.”

Before joining Clearwater Paper, Mr. Bowden was the president of the America’s food and beverage division for Multi-Color. He also held key leadership roles at International Paper, including the executive vice president of marketing and strategy for xpedx, formally an International Paper division, and mill manager for the company’s Augusta, Georgia, coated paperboard facility.

Mr. Bowden received his Bachelor of Science in Chemical Engineering from Auburn University and completed executive programs at Louisiana State University and the Kellogg School of Management at Northwestern University.

ABOUT CLEARWATER PAPER

Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The company is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, 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 customer partnerships through quality and service.

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

Published in North American News
Monday, 04 December 2017 18:45

Clearwater Paper Announces New Board Chair

Clearwater Paper Corporation (NYSE:CLW) has just announced that Beth Ford has been appointed as chair to the company's board of directors effective January 1, 2018.

ClearwaterPaper logo01Ms. Ford, the chief operating officer for Land O'Lakes Businesses, has served on the Clearwater Paper board of directors since 2013. As chief operating officer, Ms. Ford oversees Land O'Lakes' multi-billion dollar U.S. businesses, which include Purina Animal Nutrition, Land O'Lakes Dairy, and Winfield United, which provides crop inputs and agriculture technology solutions. In her 30 years in business, Ms. Ford has held senior and line leadership positions in seven companies across six industries, including roles at International Flavors and Fragrances, Mobil Corporation, PepsiCo and Pepsi Bottling Company, and Hachette Book Group and Scholastic, Inc.

"We greatly value the retail, supply chain, and operations insight Beth brings to us, which will help us improve our competitive position and succeed in the marketplace," said Linda Massman, president and CEO. "On behalf of the Clearwater Paper team, we extend our congratulations to Beth as our new board chair."

Ms. Ford will succeed Boh Dickey as chair. Mr. Dickey has been a Clearwater Paper board member since 2008 and chair since 2013. He is expected to retire from the company's board at the end of his current board term in May 2018 pursuant to the company's corporate governance guidelines.

"Boh has been a driving force in developing and guiding our strategy, positioning Clearwater Paper as one of the largest private label tissue manufacturers and an efficient paperboard manufacturer, serving our customers well over the years," added Massman. "I thank him for his numerous contributions and critical decisions that have helped make our company more successful."

With today's announcement, Clearwater Paper will be one of the few publicly-traded companies in the U.S. with women serving as the CEO and non-executive board chair.

ABOUT CLEARWATER PAPER

Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The company is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, 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 customer partnerships through quality and service.

Source: Clearwater Paper Corporation - http://www.clearwaterpaper.com/

Published in North American News

Clearwater Paper Corporation (NYSE:CLW) has just released the company's latest corporate social responsibility (CSR) report, building on a history of sustainable commitment to our customers, employees, communities and the environment. The report shares data from the past two years, providing a comprehensive update on the company's performance on environmental, social and governance topics that matter most to Clearwater Paper stakeholders involved with or impacted by our company.

ClearwaterPaper logo01"At Clearwater Paper, we look at sustainability as a continuous improvement journey that reflects our strong commitment to being part of the solution in a changing and challenging world," said Linda Massman, president and CEO. "As such, we are pleased to present this CSR report, which was developed using current Global Reporting Initiative (GRI) G4 guidelines."

Highlights from the report include:

  • 68 percent reduction in waste to landfill since 2012
  • 10 percent reduction in water usage since 2012
  • 23 percent reduction in volatile organic compounds (VOCs) since 2012
  • 9 percent reduction in recordable safety incidents since 2012

This latest report is the company's first using GRI principles and policies. GRI helps businesses and governments worldwide understand and communicate their impact on critical sustainability issues such as climate change, human rights, governance and social well-being. This enables real action to create social, environmental and economic benefits for everyone. The GRI Sustainability Reporting Standards are developed with true multi-stakeholder contributions and rooted in the public interest. https://www.globalreporting.org.

The report can be found at http://www.clearwaterpaper.com/environmental-performance/csr.

ABOUT CLEARWATER PAPER

Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The company is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, 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 customer partnerships through quality and service.

Source: Clearwater Paper Corporation

Published in European News

The company reported net sales of $429.7 million for the second quarter of 2017, down 1.6% compared to net sales of $436.7 million for the second quarter of 2016. Net earnings determined in accordance with generally accepted accounting principles, or GAAP, for the second quarter of 2017 were $8.0 million, or $0.48 per diluted share, compared to net earnings of $20.9 million, or $1.21 per diluted share, for the second quarter of 2016. The decrease in net earnings was due primarily to a planned bi-annual major maintenance outage at the Company's Arkansas mill in the second quarter of 2017 and higher input costs for energy, pulp, chemicals, and packaging supplies. Excluding certain non-core items identified in the attached Reconciliation of Non-GAAP Financial Measures, second quarter 2017 adjusted net earnings were $7.9 million, or $0.48 per diluted share, compared to second quarter 2016 adjusted net earnings of $23.5 million, or $1.37 per diluted share.

ClearwaterPaper logo01Earnings before interest, taxes, depreciation and amortization, or EBITDA, was $45.7 million for the second quarter of 2017 compared to $62.2 million for the second quarter of 2016. Adjusted EBITDA for the quarter was $45.0 million, down 32.1% compared to second quarter 2016 Adjusted EBITDA of $66.3 million. The $21.3 million decrease in adjusted EBITDA was primarily a result of the same major maintenance and higher input costs affecting GAAP net earnings in the second quarter of 2017.

"We achieved solid second quarter results that were in line with our quarterly outlook," said Linda K. Massman, president and chief executive officer. "The positive impacts to the quarter included higher prices and a stronger sales mix for paperboard, which were offset by higher external pulp pricing and lower consumer product shipment volumes, as parent rolls were used to build needed inventory.

I am also pleased to share that our previously disclosed strategic projects remain on time and within budget, and we continue to believe this will position us to more efficiently partner with and meet the needs of our customers in the future," said Massman.

SECOND QUARTER 2017 SEGMENT PERFORMANCE

Consumer Products

Net sales in the Consumer Products segment were $231.9 million for the second quarter of 2017, down 6.5% compared to second quarter 2016 net sales of $247.9 million. This decrease was due to lower parent roll sales resulting from the shutdown of two higher cost paper machines at the Neenah, Wisconsin mill at the end of 2016 and a 1.7% decrease in retail tons sold.

Consumer Products had operating income of $10.5 million in the second quarter of 2017, compared to operating income of $18.5 million in the second quarter of 2016. After adjusting for certain non-core items identified in the attached Reconciliation of Non-GAAP Financial Measures, adjusted operating income of $11.8 million for the second quarter of 2017 was down from $19.1 million in the same period in 2016. Consumer Products operating margin decreased to 4.5% in the second quarter of 2017 from 7.5% in the second quarter of 2016. The adjusted operating margin decreased from 7.7% in the second quarter of 2016 to 5.1% in the second quarter of 2017 due to higher input costs for transportation, pulp, natural gas, and packaging supplies, partially offset by lower wage and benefit costs resulting from the implementation of warehouse automation, and the previously mentioned shutdown at the Neenah mill.

  • Total tissue sales volumes of 91,450 tons in the second quarter of 2017 decreased by 7.7% and converted product cases shipped were 12.7 million, down 3.9%, each compared to the second quarter of 2016.
  • Average tissue net selling prices increased 1.6% to $2,533 per ton in the second quarter of 2017, compared to the second quarter of 2016.

Pulp and Paperboard

Net sales in the Pulp and Paperboard segment were $197.8 million for the second quarter of 2017, up 4.8% compared to second quarter 2016 net sales of $188.8 million. The increase was primarily due to higher paperboard shipment volume, which includes sales from the operations of the former Manchester Industries acquired in December 2016. Operating income for the quarter decreased $18.4 million to $21.6 million, compared to operating income of $40.0 million for the second quarter of 2016, primarily due to approximately $9 million in major maintenance at the Arkansas mill and higher input costs for natural gas, electricity, chemicals and pulp and higher wages and benefits due to annual increases. In addition, second quarter 2016 operating income included the receipt of a net $2.8 million in partial reimbursement of previously incurred costs related to performance issues with the recovery boiler at the Arkansas mill.

  • Paperboard sales volumes increased 4.0% to 207,152 tons in the second quarter of 2017, compared to 199,132 tons in the second quarter of 2016.
  • Paperboard net selling prices increased 0.7% to $955 per ton compared to the second quarter of 2016.

Taxes

The company's consolidated GAAP tax rate and adjusted tax rate for the second quarter of 2017 was a provision of 33.0%, compared to 36.3% and 36.2%, respectively, in the second quarter of 2016. The company expects its GAAP and adjusted tax rate for 2017 to be approximately 34% plus or minus two percentage points.

Note Regarding Use of Non-GAAP Financial Measures

In this press release, the company presents certain non-GAAP financial information for the second quarters of 2017 and 2016, including adjusted net earnings, adjusted net earnings per diluted share, EBITDA, adjusted EBITDA, adjusted operating income, adjusted operating margin, adjusted income tax provision and adjusted tax rate. Because these amounts are not in accordance with GAAP, reconciliations to net earnings, net earnings per diluted share, operating income, income tax provision and tax rate as determined in accordance with GAAP are included in the tables at the end of this press release. The company presents these non-GAAP amounts because management believes they assist investors and analysts in comparing the company's performance across reporting periods on a consistent basis by excluding items that the company does not believe are indicative of its core operating performance.

ABOUT CLEARWATER PAPER

Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The company is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, 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 customer partnerships through quality and service.

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