Clearwater Paper Corp. is selling its Lewiston, Idaho sawmill to Idaho Forest Group of Coeur d’Alene, Idaho. The $30 million transaction includes the sale of Clearwater Paper’s sawmill, planer mill, dry kilns, and related assets along with log and finished goods inventories and timber under contract. As part of the transaction, the two companies have entered into a long-term residual fiber supply agreement with the goal of delivering consistent supplies of chips and sawdust to Clearwater Paper’s Lewiston pulp mill from Idaho Forest Group mills.
Upon closing of the transaction, Idaho Forest Group plans to adjust production to meet its customer needs. At the same time, Idaho Forest Group will begin assessing employment needs and should initiate the hiring process soon after the close of the transaction. Longer term, Idaho Forest Group will assess the mill’s capabilities and prepare an improvement plan for implementation.
“We are very excited about the prospects of updating and revitalizing the Lewiston sawmill,” says Scott Atkison, president of Idaho Forest Group. “The mill and its location in the LC Valley and surrounding wood basket give us the ability to better supply our customers with the products they need, both now and into the future.”