AF&PA Celebrates New Chapter for North American Trade Under USMCA Agreement

For the second quarter of 2021, Clearwater Paper reported net sales of $406 million, a 15% decrease compared to net sales of $481 million for the second quarter of 2020. Net loss for the second quarter of 2021 was $52 million, or $3.10 per diluted share, compared to net income for the second quarter of 2020 of $23 million, or $1.36 per diluted share. On a non-GAAP basis, Clearwater Paper reported adjusted net loss in the second quarter of 2021 of $18 million, or $1.07 per diluted share, compared to second quarter 2020 adjusted net income of $28 million, or $1.67 per diluted share. Adjusted EBITDA for the quarter was $15 million, compared to the second quarter of 2020 Adjusted EBITDA of $79 million. Additionally, Clearwater Paper incurred impairment and other closure costs associated with the recently announced closure of its Neenah, Wisconsin facility of $41.7 million. For the first six months of 2021, Clearwater Paper reported net sales of $832 million, a 13% decrease compared to net sales of $958 million for the first six months of 2020. Net loss for the first six months of 2021 was $40 million, or $2.37 per diluted share, compared to net income for the first six months of 2020 of $33 million, or $1.99 per diluted share. On a non-GAAP basis, Clearwater Paper reported adjusted net loss in the first six months of 2021 of $6 million, or $0.37 per diluted share, compared to first six months of 2020 adjusted net income of $37 million, or $2.24 per diluted share. Adjusted EBITDA for the first six months was $69 million, compared to the first six months of 2020 Adjusted EBITDA of $134 million.

July will see shovels in the ground as the Sawmills Division of J.D. Irving, Limited begins a long-awaited investment at Doaktown. The $35 million project will see the mill’s footprint grow by 14,000 square feet bringing together the sawmill, planer mill and value added centre under one roof. Currently the sawmill is located on the other side of the road. New, state-of-the-art technology will be installed throughout the lumber production process. The company is targeting spring 2021 for the commissioning and start-up of the new facility.

Sappi North America, a leading producer and supplier of diversified paper and packaging products, today received an award for its investment in the state of Minnesota from the Minnesota Office of Foreign Direct Investment, under the Minnesota Department of Employment and Economic Development (DEED). The award highlights the company’s contributions to the economic vitality of local communities, and its commitment to keeping Minnesota a world-leading business destination. “We are honored and delighted to receive this award from the Governor’s office for our contributions to the great state of Minnesota,” said Mark Gardner, president and CEO of Sappi North America. “Through the investments made under Sappi’s 2020Vision strategy, we’re ensuring that our Cloquet facility will continue to operate at this high standard for many years to come.” Click Read More below for additional detail.