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News Breaks | | | | March 6, 2013 | | 07:58 EDT |  | CLW | Clearwater Paper to close Thomaston, Ga., tissue converting facility
Clearwater Paper announced the planned permanent closure of its Thomaston, Ga., tissue converting and distribution facility. The gradual shutdown of converting equipment will occur on a schedule throughout the year, with some operations running into Q1 2014, affecting a total of 150 employees. Displaced Thomaston employees will be given an opportunity to apply for open positions at other Clearwater Paper facilities. The company expects the total impact of non-recurring exit-related costs to be approximately $6M-$7M of which approximately $4M-$5M will be incurred in 2013. The cost savings benefits resulting from the equipment relocation and converting facility optimization are expected to be fully realized beginning in Q4 2014. | |
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