Clearwater Paper sells specialty products business

Clearwater Paper, a Spokane, Wash.-based manufacturer of consumer paper goods for retailers’ store brand programs, announced that it sold its specialty products business and mills to Dunn Paper Inc., a specialty paper manufacturer located in Port Huron, Mich. The transaction included the sale of five Clearwater Paper subsidiaries and facilities located in East Hartford, Conn.; Menominee, Mich.; Gouverneur (Natural Dam), N.Y.; St. Catharines, Ontario; and Wiggins, Miss.

"The sale of the specialty products business sharpens our Consumer Products Division's focus on the core retail business," said Linda Massman, president and CEO, Clearwater Paper. "It's about improving our approach and efficiencies in all parts of our business while meeting or surpassing our customers' expectations, and our company financial goals. We believe that the capital projects in which we will invest the proceeds of this sale can yield a 300-to-400-basis-point improvement in the Consumer Product Division's EBITDA margins over the next three years."