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January 11, 2013
17:02 EDTWPPWausau Paper to narrow focus on tissue business
Wausau Paper announced that it commenced a process last year to identify strategic alternatives for its Paper Segment that will position the company to focus its management efforts on continuing the growth of its highly successful tissue business. In early 2012 the company exited its legacy Print & Color business and narrowed the focus of its Paper Segment to specialty products with leading domestic and global positions in food, industrial and tape markets. Since that time the company retained financial advisors to assist the company's board of directors in the evaluation of alternatives for the remainder of the Paper Segment. The company recently began the start-up phase of a $220M tissue capacity investment at its Harrodsburg, Kentucky site. The project will accelerate growth of its Tissue Segment and further establish its "green leadership" position in away-from-home tissue markets through improved product performance and the introduction of new-to-the-market premium recycled products. The company cannot provide assurance of the timing, terms or completion of a transaction related to the strategic alternatives for the Paper Segment.
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