Coeur d’Alene-based Idaho Forest Group is purchasing the Clearwater Paper sawmill in Lewiston for $30 million. The Lewiston Tribune has been reporting on the sale throughout the day. The Tribune reports the sale includes Clearwater Paper’s sawmill, planer mill, dry kilns and finished inventories.
“Speculation about the deal had been circulating for more than two weeks in Lewiston. Clearwater Paper spokesman Matt Van Vleet had declined to comment on the pending acquisition multiple times, dismissing the speculation as rumors.” – Lewiston Tribune
It’s not clear how many people will lose or gain a job from this deal in the long-run. KXLY.com reports the operation at the Lewiston mill will be ramped down until Idaho Forest Group takes over. Approximately 250 employees are impacted by the sale of the sawmill. Those employees will receive up to 60 days of severance pay.
The Tribune says Idaho Forest Group plans to adjust production to meets its customer needs, according to a press release.
“The company will begin assessing employment needs and should initiate the hiring process soon after the transaction closes.” – Clearwater Paper Corporation
Clearwater Paper Corporation is based in Spokane, Washington. It manufactures tissue paper, bleached paperboard and pulp. The Idaho Forest Group is a partnership between forest products producers based in Coeur d’Alene, Idaho.