Loading prices...

Register/Sign in
ScrapMonster
Are ads getting in your way? Register for Ad-free pages and live data.
Get an instant offer on your damaged car
Paper Recycling July 23, 2024 08:30:24 PM

Clearwater Paper Announced Sale of Tissue Business to Sofidel

Paul Ploumis
ScrapMonster Author
The transaction represents the next step in the company’s transformation aimed at becoming a premier independent supplier of paperboard to North American converters.
Clearwater Paper Announced Sale of Tissue Business to Sofidel

SEATTLE (Scrap Monster): Clearwater Paper Corporation announced that it has entered into a definitive agreement to sell its tissue business to Sofidel America Corporation for $1.06 billion, subject to adjustments for debt, cash, transaction expenses and net working capital.

The transaction represents the next step in the company’s transformation aimed at becoming a premier independent supplier of paperboard to North American converters. Earlier, the company had announced strategic review of its tissue business. The transaction is expecte d to close later in 2024, subject to customary closing conditions.

RELATED NEWS:

Clearwater Paper to Invest in Modern Tissue Converting Line at Shelby, N.C. Facility

Clearwater Paper Temporarily Suspends Operations at Lewiston, Idaho, Paper Mill

Arsen Kitch, President and Chief Executive Officer, Clearwater noted that the company is pleased to have reached an agreement with Sofidel, which it believes will position the company for its next chapter of growth and value creation. The transaction will help it to deleverage its balance sheet, while diversifying its paperboard business, he added. Furthermore, he appreciated the dedication of its team members, who have been instrumental in the successful execution of its strategy.

The financial advisor to Clearwater for the transaction is Goldman Sachs & Co. LLC, while the legal advisory services are being provided by Pillsbury Winthrop Shaw Pittman LLP, said the company press release.

Are ads getting in your way? Register for Ad-free pages and live data.

How to Recycle

Proper Disposal of Alkaline Batteries

Proper Disposal of Alkaline Batteries

Improper disposal of alkaline batteries can result in various negative consequences. Explore our blog post to discover safe disposal methods.
Christmas Tree Recycling - Responsible Ways

Christmas Tree Recycling - Responsible Ways

Proper preparation and using a reliable Christmas tree recycling directory ensures responsible disposal and maximizes the benefits.
Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop throwing away LED light bulbs and dispose of them responsibly. Proper disposal ensures environmental safety and sustainability.
powered by RecyclingMonster
Are ads getting in your way? Register for Ad-free pages and live data.
×

Quick Search

Advanced Search