Wausau Paper Narrows Focus to Tissue Business
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Wausau Paper, Mosinee, Wis., USA, this week said 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, Wausau exited its legacy Print & Color business and narrowed the focus of its Paper Segment to specialty products in the food, industrial, and tape markets. Since that time the company retained financial advisors to assist its board of directors in the evaluation of alternatives for the remainder of the Paper Segment.
Wausau recently began the startup phase of a $220 million tissue capacity investment at its Harrodsburg, Ky., 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.
"Our Tissue Segment has demonstrated strong profitability and exceptional growth over the last decade," stated Hank Newell, president and CEO. "We believe our shareholders' interests will be best served through a singular focus on successfully marketing the capacity and capability of our new tissue machine and sustaining the historically strong growth and profit performance of our tissue business."
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