Clearwater sells noncore assets

Clearwater Paper Corp., Spokane, Washington, has sold its specialty production business and mills to Dunn Paper Inc., Port Huron, Michigan. Clearwater says it will reinvest the net proceeds of the sale into capital projects within its Consumer Products division.

The transaction includes the sale of five Clearwater Paper subsidiaries with facilities in East Hartford, Connecticut; Menominee, Michigan; Gouverneur, New York; St. Catharines, Ontario; and Wiggins, Mississippi. The mills produced specialty paper and paperboard products, such as waxed paper, and paper used for wrapping food.

“We are very pleased to welcome the exceptional people who lead and work at these specialty mills to the Dunn paper team,” says Brent Earnshaw, CEO of Dunn Paper. “Combining the unique assets, capabilities and products of these mills with Dunn Paper’s Port Huron mill will lead to a specialty paper company with unmatched product offerings for our diverse customer base.”