Clearwater Paper Sells Ladysmith, Wisconsin Facility To Dunn Paper For $72 Mln

(RTTNews) - Clearwater Paper Corp. (CLW) said it has sold its Ladysmith, Wisconsin facility to Dunn Paper, Inc for approximately $72 million. The Company intends to use the net proceeds to help fund the expansion of our Shelby, N.C. facility and opportunistically pay down debt.

"In our Consumer Products business, our strategy is focused on network optimization to match the growing demand for the ultra-quality segments of the tissue category. As a result, we elected to sell our Ladysmith facility, which manufactures recycled paper and does not align with that strategy," said Linda Massman, president and chief executive officer.

Effective today, Ladysmith employees are now employees of Dunn Paper.