K-C Spinning off Businesses

Kimberly-Clark Corp. announced that its board of directors has approved the previously announced plan to spin-off its paper and Canadian pulp operations.

"Today's actions are consistent with our global business plan and are aimed at increasing shareholder value," said Thomas Falk, chairman and CEO. "The approval to proceed with the spin-off of our paper and pulp operations allows us to further enhance our position as a highly focused and innovative health and hygiene company, while the stock repurchase authorization reflects Kimberly-Clark's strong balance sheet and our continuing ability to increase cash flow."