Clearwater Paper Suspended Idaho Operations Due to Severe Weather Conditions

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01/15/2024 - 07:20 PM

SPOKANE, Wash.--(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.