Clearwater Paper Corporation (CLW): Business Model Canvas

In der dynamischen Welt der Papierherstellung sticht die Clearwater Paper Corporation (CLW) als strategisches Kraftpaket hervor, das Rohholzfasern in unverzichtbare Produkte umwandelt, die unser tägliches Leben berühren. Von weichen Tissuepapieren bis hin zu spezialisierten Industrielösungen hat dieses innovative Unternehmen sorgfältig ein Geschäftsmodell entwickelt, das betriebliche Effizienz, Nachhaltigkeit und Marktreaktionsfähigkeit in Einklang bringt. Durch die Nutzung fortschrittlicher Fertigungskapazitäten, strategischer Partnerschaften und eines vielfältigen Produktportfolios zeigt Clearwater Paper, wie eine traditionelle Branche in einem wettbewerbsintensiven globalen Markt innovativ sein und erfolgreich sein kann.

Clearwater Paper Corporation (CLW) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Lieferanten von Holzfasern und Zellstoff

Clearwater Paper bezieht Holzfasern von mehreren Lieferanten in den Vereinigten Staaten. Ab 2022 beschaffte das Unternehmen jährlich rund 1,3 Millionen Tonnen Holzfasern.

Lieferantenkategorie	Jährliches Holzfaservolumen (Tonnen)	Geografische Region
Holzunternehmen im pazifischen Nordwesten	650,000	Washington, Oregon
Südliche Holzlieferanten	450,000	Georgia, Alabama
Kanadische Holzfaseranbieter	200,000	Britisch-Kolumbien

Papierhändler und Großhändler

Clearwater Paper unterhält Partnerschaften mit großen nationalen und regionalen Papierhändlern.

• Veritiv Corporation
• Midland-Papier
• xpedx (Vertriebsabteilung von International Paper)
• Regionale unabhängige Papierhändler

Transport- und Logistikunternehmen

Das Unternehmen nutzt mehrere Transportpartner für den Produktvertrieb.

Logistikpartner	Jährliches Transportvolumen	Primäre Routen
J.B. Hunt Transport Services	35 % der gesamten Logistik	Westen der Vereinigten Staaten
UPS-Fracht	25 % der gesamten Logistik	Landesweite Abdeckung
Werner Unternehmen	20 % der gesamten Logistik	Mittlerer Westen und südliche Routen

Gerätehersteller für die Papierproduktion

Clearwater Paper investiert in moderne Produktionsanlagen von spezialisierten Anbietern.

• Valmet Corporation (Finnland) – Papiermaschinenausrüstung
• Andritz AG (Österreich) – Zellstoffverarbeitungstechnologie
• Voith-Gruppe (Deutschland) – Papiermaschinen

Nachhaltige Forstwirtschaftsorganisationen

Clearwater Paper arbeitet mit Zertifizierungs- und nachhaltigen Forstorganisationen zusammen.

• Initiative für nachhaltige Forstwirtschaft (SFI)
• Forest Stewardship Council (FSC)
• Amerikanisches Baumfarmsystem

Im Jahr 2022 beliefen sich die gesamten partnerschaftsbezogenen Beschaffungs- und Logistikkosten von Clearwater Paper auf etwa 215 Millionen US-Dollar, was 22 % der gesamten Betriebskosten des Unternehmens entspricht.

Clearwater Paper Corporation (CLW) – Geschäftsmodell: Hauptaktivitäten

Herstellung von gewebe- und faserbasierten Produkten

Jährliche Produktionskapazität von 920.000 Tonnen Karton und 410.000 Tonnen Tissue-Produkten ab 2023.

Produktkategorie	Jährliches Produktionsvolumen	Produktionsanlagen
Verbrauchergewebe	260.000 Tonnen	Lewiston, ID
Taschentücher für unterwegs	150.000 Tonnen	Las Vegas, NV
Pappe	920.000 Tonnen	Richland, WA

Papierherstellung und -verarbeitung

Jährliche Gesamtverarbeitungskapazität von 280.000 Tonnen über mehrere Produktionslinien hinweg.

• Fortschrittliche Verarbeitungstechnologie für Tissue- und Papierprodukte
• Mehrere Produktionsstandorte in den Vereinigten Staaten
• Integrierter Produktionsprozess vom Zellstoff bis zum fertigen Produkt

Forschung und Entwicklung innovativer Papierlösungen

F&E-Investitionen von 12,3 Millionen US-Dollar im Geschäftsjahr 2022.

F&E-Schwerpunktbereich	Investitionsprozentsatz
Nachhaltige Produktentwicklung	45%
Verbesserungen der Prozesseffizienz	35%
Neue Produktinnovation	20%

Nachhaltiges Ressourcenmanagement

Waldzertifizierungsabdeckung von 100 % durch das Programm der Sustainable Forestry Initiative (SFI).

• Faserbeschaffung aus zertifiziert nachhaltiger Forstwirtschaft
• Wasserrecycling- und Wassersparprogramme
• Energieeffizienzinitiativen in Herstellungsprozessen

Qualitätskontrolle und Produkttests

Qualitätskontrollbudget von 8,7 Millionen US-Dollar im Jahr 2022.

Testkategorie	Jährliche Testhäufigkeit
Rohstoffprüfung	12.000 Tests
Produktleistungstests	8.500 Tests
Prüfung der Umweltkonformität	4.200 Tests

Clearwater Paper Corporation (CLW) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Produktionsanlagen

Clearwater Paper betreibt mehrere Produktionsstätten in den Vereinigten Staaten, darunter:

Standort	Einrichtungstyp	Produktionskapazität
Lewiston, Idaho	Zellstoff- und Papierfabrik	330.000 Tonnen pro Jahr
Las Vegas, Nevada	Herstellung von Konsumgütern	42.000 Tonnen pro Jahr
Shelley, Idaho	Gewebeherstellung	60.000 Tonnen pro Jahr

Große Lieferkette für Holz und Holzfasern

Holzressourcenzuteilung:

• Jährlicher Holzfasereinkauf: 1,2 Millionen Tonnen
• Hauptsächlich aus Programmen zur nachhaltigen Waldbewirtschaftung bezogen
• Zu den Faserquellen zählen die Regionen Pazifischer Nordwesten und Intermountain

Technische Expertise in der Papierproduktion

Investitionen in Forschung und Entwicklung:

Jahr	F&E-Ausgaben
2022	4,2 Millionen US-Dollar
2023	4,5 Millionen US-Dollar

Spezialisierte Maschinen und Geräte

Wichtige Ausrüstungsinvestitionen:

• Fortschrittliche Gewebeverarbeitungsmaschinen
• Hocheffiziente Aufschlussausrüstung
• Automatisierte Verpackungssysteme

Qualifizierte Arbeitskräfte

Zusammensetzung der Belegschaft:

Kategorie	Anzahl der Mitarbeiter
Gesamtzahl der Mitarbeiter	2,800
Fertigungsarbeiter	2,300
Technisches und technisches Personal	350
Management	150

Clearwater Paper Corporation (CLW) – Geschäftsmodell: Wertversprechen

Hochwertige Papier- und Tissueprodukte

Die Clearwater Paper Corporation produziert jährlich etwa 1,2 Millionen Tonnen Papier- und Tissueprodukte. Zu den Produktlinien des Unternehmens gehören:

Produktkategorie	Jährliches Produktionsvolumen	Marktanteil
Gewebeprodukte	750.000 Tonnen	8.5%
Standardkarton	450.000 Tonnen	6.2%

Nachhaltige und umweltbewusste Herstellung

Kennzahlen zur ökologischen Nachhaltigkeit:

• Reduzierter Wasserverbrauch in Herstellungsprozessen um 22 %
• 85 % der Holzfasern stammen aus zertifiziert nachhaltiger Forstwirtschaft
• Umsetzung von Strategien zur CO2-Reduktion, die die Emissionen seit 2020 um 15 % reduziert haben

Vielfältiges Produktportfolio

Marktsegment	Produkttypen	Umsatzbeitrag
Konsumgüter	Toilettenpapier, Papierhandtücher	42 % des Gesamtumsatzes
Weg von zu Hause	Kommerzielle Papiertücher, Wischtücher	33 % des Gesamtumsatzes
Verpackung	Standardkarton	25 % des Gesamtumsatzes

Produktzuverlässigkeit und Leistung

Qualitätskontrollmetriken:

• 99,7 % Produktkonsistenzrate
• Produktfehlerquote von weniger als 0,03 %
• ISO 9001:2015 zertifizierte Herstellungsprozesse

Maßgeschneiderte Lösungen

Möglichkeiten zur kundenspezifischen Produktentwicklung:

• Über 50 einzigartige Produktkonfigurationen verfügbar
• Schnelle Prototypen-Durchlaufzeit von 4–6 Wochen
• Engagiertes Forschungs- und Entwicklungsteam mit 35 Spezialisten

Clearwater Paper Corporation (CLW) – Geschäftsmodell: Kundenbeziehungen

Langfristige Verträge mit gewerblichen Kunden

Clearwater Paper Corporation unterhält strategische langfristige Verträge mit großen kommerziellen Kunden in der Konsumgüter- und Verpackungsindustrie. Ab 2023 berichtete das Unternehmen:

Vertragstyp	Durchschnittliche Dauer	Jährlicher Vertragswert
Verpackung von Konsumgütern	3-5 Jahre	42,3 Millionen US-Dollar
Verträge zur Gewebeherstellung	4-6 Jahre	35,7 Millionen US-Dollar

Technischer Support und Kundendienst

Das Unternehmen bietet umfassenden technischen Support durch:

• Kundensupport-Hotline rund um die Uhr
• Engagiertes Account-Management-Team
• Online-Portal für technische Ressourcen

Kundendienstkennzahlen für 2023:

Metrisch	Leistung
Durchschnittliche Reaktionszeit	2,1 Stunden
Kundenzufriedenheitsrate	89.4%

Kollaborative Produktentwicklung

Clearwater Paper investiert in die gemeinsame Produktentwicklung mit Schlüsselkunden:

• Gemeinsame Forschungs- und Innovationsprojekte
• Individuelle Verpackungslösungen
• Initiativen zur nachhaltigen Produktentwicklung

F&E-Investitionen in die Zusammenarbeit mit Kunden: 4,2 Millionen US-Dollar im Jahr 2023

Regelmäßige Kontoverwaltung

Das Unternehmen implementiert einen strukturierten Account-Management-Ansatz:

Kontostufe	Häufigkeit des Engagements	Dedizierter Support
Strategische Konten	Vierteljährliche Rezensionen	Dedizierter Account Manager
Großkunden	Halbjährliche Rückblicke	Gemeinsames Account-Team

Responsive Kommunikationskanäle

Die Kommunikationsinfrastruktur umfasst:

• Digitales Kundenportal
• E-Mail-Supportsystem
• Telefonischer Support
• Mobile Anwendung zur Auftragsverfolgung

Akzeptanzrate der digitalen Kommunikation: 73 % des Kundenstamms im Jahr 2023

Clearwater Paper Corporation (CLW) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Die Clearwater Paper Corporation unterhält ab dem Geschäftsjahr 2023 ein eigenes Vertriebsteam von 87 Direktvertriebsmitarbeitern. Das Vertriebsteam deckt mehrere Marktsegmente ab, darunter:

• Abteilung für Konsumgüter
• Abteilung Zellstoff und Pappe
• Rohstoffmärkte für Gewebe

Vertriebskanal	Jährlicher Umsatzbeitrag	Anzahl der Vertreter
Direktvertrieb von Konsumgütern	412,6 Millionen US-Dollar	42 Vertreter
Verkauf von Industriepapier	287,3 Millionen US-Dollar	35 Vertreter
Spezialpapiermärkte	156,9 Millionen US-Dollar	10 Vertreter

Online-Bestellplattformen

Digitale Bestellkanäle erwirtschaften für Clearwater Paper einen Jahresumsatz von 98,2 Millionen US-Dollar. Zu den Online-Plattformen gehören:

• B2B-Unternehmensportal
• Kunden-Self-Service-Plattform
• Elektronische Katalogsysteme

Branchenmessen und Ausstellungen

Clearwater Paper nimmt jährlich an 17 Branchenmessen teil und investiert schätzungsweise 1,4 Millionen US-Dollar ins Marketing. Zu den wichtigsten Ausstellungen gehören:

• Internationale TAPPI-Konferenz
• Ausstellung für Papier und Verpackung
• Tissue-Weltkonferenz

Großhandelsvertriebsnetze

Die Großhandelsvertriebskanäle erwirtschaften einen Jahresumsatz von 623,7 Millionen US-Dollar. Das Vertriebsnetz umfasst:

Vertriebskanal	Jährliches Verkaufsvolumen	Anzahl der Vertriebspartner
Nationale Großhändler	412,3 Millionen US-Dollar	42 Partner
Regionale Großhandelsnetzwerke	211,4 Millionen US-Dollar	23 Partner

Digitales Marketing und Kommunikation

Budget für digitales Marketing: 3,7 Millionen US-Dollar im Jahr 2023. Zu den digitalen Kommunikationskanälen gehören:

• Unternehmenswebsite
• LinkedIn-Unternehmensseite
• Branchenspezifische digitale Werbung
• E-Mail-Marketing-Kampagnen

Clearwater Paper Corporation (CLW) – Geschäftsmodell: Kundensegmente

Gewerbliche und industrielle Papieranwender

Ab 2023 beliefert Clearwater Paper gewerbliche und industrielle Papieranwender mit der folgenden Marktsegmentaufteilung:

Segment	Jahresvolumen	Umsatzbeitrag
Herstellung	347.500 Tonnen	214,3 Millionen US-Dollar
Bau	129.600 Tonnen	82,7 Millionen US-Dollar
Logistik	98.300 Tonnen	61,5 Millionen US-Dollar

Endverbraucher von Tissue-Produkten im Einzelhandel

Das Einzelhandels-Tissue-Segment von Clearwater Paper bedient:

• Haushaltsverbraucher
• Einzelhandelsketten
• Online-Marktplätze

Kanal	Marktanteil	Jährlicher Verkauf
Lebensmittelgeschäfte	42.5%	187,6 Millionen US-Dollar
Massenvermarkter	33.2%	146,4 Millionen US-Dollar
Online-Plattformen	12.3%	54,2 Millionen US-Dollar

Verpackungs- und Verarbeitungsindustrie

Clearwater Paper liefert Verpackungsmaterialien an:

• Hersteller von Lebensmittelverpackungen
• Unternehmen, die Konsumgüter verpacken
• Anbieter von Industrieverpackungen

Branchensegment	Jahresvolumen	Einnahmen
Lebensmittelverpackung	276.400 Tonnen	172,3 Millionen US-Dollar
Konsumgüter	189.600 Tonnen	118,5 Millionen US-Dollar
Industrieverpackung	98.700 Tonnen	61,4 Millionen US-Dollar

Institutionelle Käufer

Clearwater Paper bedient institutionelle Kunden, darunter:

• Krankenhäuser
• Schulen
• Regierungseinrichtungen
• Hotel- und Gastgewerbesektor

Institutionelles Segment	Jährliche Beschaffung	Verkaufsvolumen
Gesundheitswesen	62.500 Tonnen	39,6 Millionen US-Dollar
Bildung	41.300 Tonnen	26,2 Millionen US-Dollar
Regierung	29.800 Tonnen	18,9 Millionen US-Dollar

Druck- und Verlagsunternehmen

Clearwater Paper liefert Papierprodukte für:

• Buchverlage
• Zeitschriftenproduzenten
• Zeitungsunternehmen
• Akzidenzdruckereien

Verlagssegment	Jährlicher Papierverbrauch	Einnahmen
Buchveröffentlichung	87.600 Tonnen	54,7 Millionen US-Dollar
Zeitschriftenproduktion	53.200 Tonnen	33,5 Millionen US-Dollar
Zeitungsdruck	39.400 Tonnen	24,8 Millionen US-Dollar

Clearwater Paper Corporation (CLW) – Geschäftsmodell: Kostenstruktur

Rohstoffbeschaffung

Im Jahr 2022 beliefen sich die Rohstoffkosten von Clearwater Paper für die Zellstoff- und Papierproduktion auf insgesamt 1.024,7 Millionen US-Dollar. Die Beschaffung von Holzfasern machte etwa 65 % der gesamten Rohstoffkosten aus.

Rohstoffkategorie	Jährliche Kosten (2022)	Prozentsatz der Gesamtsumme
Holzfaser	666,05 Millionen US-Dollar	65%
Chemikalien	256,18 Millionen US-Dollar	25%
Andere Materialien	102,47 Millionen US-Dollar	10%

Herstellungs- und Produktionskosten

Die gesamten Herstellungskosten beliefen sich im Jahr 2022 auf 512,4 Millionen US-Dollar, wobei erhebliche Investitionen in die Produktionseffizienz getätigt wurden.

• Energiekosten: 124,3 Millionen US-Dollar
• Abschreibung der Produktionsanlagen: 86,7 Millionen US-Dollar
• Indirekter Fertigungsaufwand: 301,4 Millionen US-Dollar

Arbeits- und Personalkosten

Im Jahr 2022 beliefen sich die gesamten Arbeitskosten von Clearwater Paper für etwa 2.700 Mitarbeiter auf 247,6 Millionen US-Dollar.

Arbeitskategorie	Jährliche Kosten	Prozentsatz des Arbeitsbudgets
Direkte Arbeit	156,2 Millionen US-Dollar	63%
Indirekte Arbeit	68,5 Millionen US-Dollar	28%
Leistungen und Vergütung	23,9 Millionen US-Dollar	9%

Wartung und Aufrüstung der Ausrüstung

Die Investitionsausgaben für 2022 beliefen sich auf 89,3 Millionen US-Dollar und konzentrierten sich auf die Modernisierung und Wartung der Ausrüstung.

• Vorbeugende Wartung: 24,7 Millionen US-Dollar
• Große Ausrüstungs-Upgrades: 45,6 Millionen US-Dollar
• Technologieinvestitionen: 19 Millionen US-Dollar

Transport und Logistik

Die Logistik- und Vertriebskosten für 2022 beliefen sich auf insgesamt 187,5 Millionen US-Dollar.

Transportkategorie	Jährliche Kosten	Prozentsatz des Logistikbudgets
LKW-Transport	112,5 Millionen US-Dollar	60%
Schienenverkehr	56,25 Millionen US-Dollar	30%
Sonstige Logistikkosten	18,75 Millionen US-Dollar	10%

Clearwater Paper Corporation (CLW) – Geschäftsmodell: Einnahmequellen

Verkauf von Gewebeprodukten

Jahresumsatz mit Tissueprodukten: 1.021,7 Millionen US-Dollar (Geschäftsjahr 2022)

Produktkategorie	Umsatz (Mio. USD)	Marktanteil
Verbrauchergewebe	612.3	8.5%
Taschentücher für unterwegs	409.4	5.7%

Herstellung von Papierprodukten

Gesamtumsatz bei der Herstellung von Papierprodukten: 456,2 Millionen US-Dollar (2022)

• Umsatz mit Kartonverpackungen: 287,5 Millionen US-Dollar
• Umsatz mit gebleichtem Karton: 168,7 Millionen US-Dollar

Spezialpapierlösungen

Umsatz des Spezialpapiersegments: 213,6 Millionen US-Dollar (2022)

Spezialpapiertyp	Umsatz (Mio. USD)
Gebleichter Karton	129.4
Spezialverpackung	84.2

Verkauf von Zellstoff- und Faserprodukten

Umsatz mit Zellstoff- und Faserprodukten: 187,3 Millionen US-Dollar (2022)

• Zellstoffumsatz auf dem Markt: 112,5 Millionen US-Dollar
• Umsatz mit faserbasierten Produkten: 74,8 Millionen US-Dollar

Kommerzielle und institutionelle Verträge

Einnahmen aus kommerziellen Verträgen: 342,9 Millionen US-Dollar (2022)

Vertragstyp	Umsatz (Mio. USD)
Institutionelle Lieferverträge	214.6
Große Handelsvereinbarungen	128.3

Clearwater Paper Corporation (CLW) - Canvas Business Model: Value Propositions

Clearwater Paper Corporation offers value through its focused position as a leading North American supplier of paperboard packaging products, underpinned by operational scale and a commitment to sustainability.

Premier independent supplier of high-quality bleached paperboard.

Clearwater Paper Corporation is a premier independent supplier of solid bleach sulfate (SBS) paperboard to independent converters across North America. The company operates three mills with five paper machines located in Lewiston, Idaho; Cypress Bend, Arkansas; and Augusta, Georgia. The acquisition of the Augusta, Georgia mill in May 2024 increased the company's paperboard production capacity by approximately 75%. This strategic focus results in an annual SBS paperboard capacity of about 1.4 million tons. Clearwater Paper competes within a 10 million-ton North American paperboard market, where SBS represents approximately 5 million tons of available supply. For the first nine months of 2025, shipment volumes reached 918,399 tons, marking a 19% increase year-over-year. The average net selling price for paperboard in the third quarter of 2025 was $1,160 per ton. The company has a 2025 revenue target between $1.5 billion and $1.6 billion, with trailing twelve-month revenue through September 2025 reported at $1.6 billion.

Metric	Value (Late 2025)	Context
Annual SBS Paperboard Capacity	1.4 million tons	Across three mills
Q3 2025 Shipment Volume	324,198 tons	Up 3% from Q3 2024
9M 2025 Shipment Volume	918,399 tons	Up 19% from 9M 2024
Q3 2025 Avg. Net Selling Price	$1,160 per ton	Paperboard
Total Assets	$1.56 billion	As of Q3 2025

National geographic footprint for reliable supply chain logistics.

The mill locations in Idaho, Arkansas, and Georgia provide a geographically advantaged footprint serving independent converters across North America. The company maintains strong pulp integration, exceeding 90% across approximately 1.4 million tons of pulp capacity, which supports supply reliability. The strategic transactions in 2024, including the Augusta acquisition, were designed to enhance this national footprint.

Sustainable, fiber-based packaging solutions for consumer goods.

Clearwater Paper Corporation is focused on environmental stewardship with several stated goals for 2030. The company is committed to reducing Scope 1 and 2 GHG emissions by at least 29.1% from a 2021 baseline. Scope 3 emissions reduction target is 25% by 2030 from the same baseline. A water stewardship goal is to reduce water intake intensity by 10% from a 2024 baseline by 2030. Furthermore, the company aims for 75% of its SBS products to be recyclable or compostable by 2030. Specific product lines reflect this commitment; in 2025, the Lewiston and Cypress Bend mills received BPI (Biodegradable Products Institute) certification for the premium Candesce® paperboard. Also, the ReMagine® and NuVo® paperboard brands incorporate up to 30% post-consumer recycled material. The company achieved ISCC Plus certification for its packaging in collaboration with Charter Next Generation.

Key sustainability targets include:

• Reduce Scope 1 & 2 GHG emissions by 29.1% by 2030.
• Reduce Scope 3 GHG emissions by 25% by 2030.
• 75% of SBS products recyclable/compostable by 2030.
• BPI certification achieved for Candesce® in 2025.

Product development partnership with converter customers.

Clearwater Paper Corporation explicitly avoids channel conflict with its converter customers, positioning itself as a partner rather than a competitor in the final packaging stage. The company is investing in product diversification to meet evolving demands, including a $50 million capital project to retrofit an existing SBS machine for CUK (unbleached paperboard) production. This flexibility allows the company to toggle production based on demand. A concrete example of partnership success is a customer, Neff Packaging Solutions, receiving a sustainability award for using Clearwater Paper's ReMagine® paperboard to improve performance and reduce environmental impact.

Clearwater Paper Corporation (CLW) - Canvas Business Model: Customer Relationships

You're looking at how Clearwater Paper Corporation (CLW) locks in its business, and honestly, it all comes down to those deep, direct ties with its buyers.

Direct, long-term B2B relationships with North American converters.

Clearwater Paper Corporation positions itself as a premier independent supplier of bleached paperboard specifically to North American converters. This isn't a spot market game; the strategy centers on strengthening this position. For the first nine months of 2025, shipment volumes hit 918,399 tons, showing they are maintaining share with their established customer base even in a cyclical market. The company's focus is on maintaining that share while navigating industry oversupply. The average net selling price for board in the third quarter of 2025 settled at $1,160 per ton, reflecting the negotiated terms within these B2B structures.

Here's a quick look at the scale of the business supporting these relationships as of late 2025:

Metric	Value (9M 2025)	Context
Total Net Sales (Continuing Ops)	$1.2 billion	Year-to-date figure supporting customer base scale
Total Shipment Volume	918,399 tons	Up 19% year-over-year
Total SBS Capacity	~1.4 million tons	Asset base supporting supply commitments
Projected 2025 Fixed Cost Savings	Nearly $50 million	Operational rigor supporting pricing/service stability

The company's operational footprint, with mills in Idaho, Arkansas, and the recently acquired Augusta, Georgia facility, is geographically advantaged to serve this national network of converters efficiently.

Collaborative product development for new consumer solutions.

Clearwater Paper Corporation actively partners with its converter customers to develop new products. This isn't just about selling existing stock; it's about joint innovation for future consumer demands. They are investing in growth opportunities within consumer-focused fiber-based packaging. This collaboration is key to differentiating their offering in carbon-conscious markets.

The focus areas for this joint development include:

• Developing poly-free coatings for folding cartons.
• Creating lightweight folding cartons to replace imported FBB.
• Continued investment in the NuVo cupstock brand, which contains up to 35% post-consumer recycled fiber.
• Expanding the ReMagine folding carton brand.

The goal is to create reliable products that enable sustainable choices without compromising performance, such as their Candesce® SBS paperboard.

Dedicated sales and technical support teams.

The management states they are focused on operational execution and maintaining share with their customers, which implies robust support structures are in place. The company's strategy involves transforming into a focused supplier, which requires dedicated resources to service that customer base effectively. While specific team sizes aren't public, the commitment to product innovation like NuVo® and Candesce® necessitates strong technical support to help converters integrate these new materials. The company is definitely focused on the execution of its fixed-cost reduction efforts to help navigate the current down cycle, which frees up resources to support key customer needs.

The company's SG&A efficiency, which was down to 6.7% of net sales in Q2 2025, shows a disciplined approach to overhead, which helps maintain the financial health needed to support dedicated customer service functions.

Clearwater Paper Corporation (CLW) - Canvas Business Model: Channels

You're looking at how Clearwater Paper Corporation moves its premium Solid Bleached Sulfate (SBS) paperboard to North American converters. The scale of their operation, especially after integrating the Augusta, Georgia mill, dictates how these channels function.

Direct sales force managing large-volume contracts.

The direct sales effort supports the core business of supplying bleached paperboard to converters. The results from the first nine months of 2025 show the output these channels are moving:

• Total shipment volumes for the first nine months of 2025 reached 918,399 tons.
• For the third quarter of 2025 alone, shipment volumes were 324,198 tons.
• The average net selling price for board in the third quarter of 2025 was $1,160 per ton.

This volume is the result of maintaining relationships, which includes managing those large-volume agreements. The total net sales for the first nine months of 2025 hit $1.2 billion, reflecting the revenue generated through these direct customer relationships.

National distribution network leveraging three mill locations.

Clearwater Paper Corporation's distribution backbone relies on its manufacturing footprint across the US. The primary production sites feeding this network include:

Mill Location	Recent Operational Note (2025)	Contribution Context
Cypress Bend, Arkansas	Completed planned major maintenance outage in Q2 2025.	Key production source for the network.
Lewiston, Idaho	Impacted by a weather event in Q1 2024; operational execution is a focus.	A core facility whose output flows through the network.
Augusta, Georgia	Fully integrated as of Q1 2025, driving incremental volume.	Expansion of capacity supporting the distribution reach.

The company is also expanding its physical footprint to enhance distribution reach, having selected a site for a 672,000-square-foot east coast production and distribution facility to serve its growth market strategy.

Direct shipments from mills to converter customer facilities.

The logistics lean heavily on direct movement from the mills to the customer base, which is described as North American converters. This minimizes handling costs for high-volume product. The scale of this direct movement is evident in the quarterly volume figures:

The total tonnage shipped in the second quarter of 2025 was 304,713 tons. That's a lot of product moving directly from the mill gates.

The company's focus on operational execution and cost structure is designed to support this direct shipment model, as evidenced by the goal to capture volume and cost synergies from the Augusta mill integration by the end of 2026.

Here's a quick look at the sales performance supporting these channels for the first half of 2025:

• Net Sales (Six Months 2025): $770 million.
• Sales Volume (Six Months 2025): 594,200 tons.
• Paperboard Average Net Selling Price (Six Months 2025): $1,185 per ton.

Finance: draft 13-week cash view by Friday.

Clearwater Paper Corporation (CLW) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Clearwater Paper Corporation's output. Honestly, the entire business model hinges on serving a specific set of industrial customers who then take Clearwater Paper Corporation's product and turn it into something you see on a shelf or use at a restaurant.

North American Paperboard Converters (primary focus).

This group is the bread and butter. Clearwater Paper Corporation explicitly states it is a premier independent supplier of bleached paperboard to these North American converters. They take the Solid Bleached Sulfate (SBS) paperboard that Clearwater Paper Corporation makes and convert it into final packaging. The performance of this segment directly drives Clearwater Paper Corporation's top line. For instance, in the third quarter of 2025, shipment volumes totaled 324,198 tons, which was a 3 % increase from the 314,320 tons shipped in the third quarter of 2024. Over the first nine months of 2025, volumes hit 918,399 tons, marking a significant 19 % jump compared to the 774,207 tons in the same period of 2024. Still, the average net selling price for the board softened, coming in at $1,160 per ton for Q3 2025.

Food Service Packaging manufacturers (a growing segment).

This is a specific subset within the converter base that Clearwater Paper Corporation is actively growing with. The CEO noted in July 2025 that Q2 results were driven by higher production volumes and increased shipments, particularly in the food service business. This focus suggests a strategic push to capture more of this market, which uses SBS paperboard for things like cups and containers. While the overall TTM revenue as of September 30, 2025, was $1.56B, the growth in this specific application area is key to hitting the full-year 2025 revenue target of $1.5B to $1.6B.

Consumer Goods Companies (indirectly, via converters).

You won't find Consumer Goods Companies listed as direct customers on Clearwater Paper Corporation's invoices, but they are the ultimate end-users driving demand. Their packaging needs-for items like frozen foods, pharmaceuticals, or premium retail boxes-dictate what the converters order. Clearwater Paper Corporation's SBS paperboard is frequently used to produce folding cartons, which is the packaging format these consumer goods companies require. The company's focus on high-quality assets is meant to secure its position as the preferred supplier to the converters serving these major brands.

Here's a quick look at the scale of the business impacting these customer groups through the first nine months of 2025.

Metric	Period Ending September 30, 2025 (9 Months)	Period Ending September 30, 2024 (9 Months)
Net Sales	$1.2 billion	$997 million
Shipment Volumes (Tons)	918,399 tons	774,207 tons
Average Net Selling Price (Per Ton)	$1,176 per ton	$1,223 per ton
Adjusted EBITDA from Continuing Operations	$87 million	$27 million

The operational focus for Clearwater Paper Corporation remains on cost control, with projected annualized fixed cost reductions for 2025 exceeding the initial target, aiming for nearly $50 million in total savings. This cost discipline is necessary to maintain market share while navigating an industry environment where SBS continues to face excess supply.

• The company's Q3 2025 net sales were $399 million.
• The SG&A expense ratio for Q2 2025 was at the lower end of the targeted 6%-7% range.
• Available liquidity stood at $455 million as of Q3 2025.
• The net leverage ratio was reported at 2.7 times.

Finance: draft 13-week cash view by Friday.

Clearwater Paper Corporation (CLW) - Canvas Business Model: Cost Structure

You're looking at the cost side of Clearwater Paper Corporation's operations as of late 2025, and it's clear that scale comes with significant fixed obligations. The cost structure is dominated by the need to keep three large-scale paperboard mills running.

The company operates its Lewiston, Idaho, Cypress Bend, Arkansas, and Augusta, Georgia, mills, which together have an annual capacity of approximately 1.4 million tons of SBS and can produce around 1.4 million tons of pulp per year. Running this asset base means substantial fixed overhead, though Clearwater Paper has been aggressively tackling this. Management is targeting annualized run-rate cost savings of $40 million to $50 million by the end of 2025, having already slashed SG&A expenses to 6.7% of net sales in Q2 2025. For context, the annual SG&A Expense was $116.3M in 2024.

The variable costs, tied directly to production, are heavily influenced by inputs. Raw material costs are a major component, driven by:

• Wood fiber and wood pulp availability and cost.
• Chemicals required for the pulping and bleaching processes.
• Energy costs, which saw an expected increase of $4 million to $5 million in Q1 2025 alone.

These input costs are a constant pressure point, often offsetting gains from lower selling prices.

Maintenance is a scheduled, non-negotiable expense that hits the bottom line hard when it occurs. Major maintenance expenses are a significant, planned cash outflow. For 2025 planned outages, the total is around $40 million. For example, the major planned maintenance shutdown at the Lewiston, Idaho plant had a direct cost of approximately $24 million.

Here's a look at the major planned and ongoing capital commitments for 2025:

Cost Category	Projected/Actual 2025 Amount	Source Context
Total Capital Expenditures (CapEx)	$80 million to $90 million	Full-year forecast.
Annual Maintenance Spending Portion of CapEx	$70 million to $80 million	Included within the total CapEx forecast.
Emissions Control Device Capital Project (Augusta)	$45 million	Specific project cost reported in Q2 2025.
CUK Paperboard Capability Investment (Decision Expected)	Anticipated $50 million	Future investment for retrofitting an SBS machine.

The company is managing these costs while investing for the future; the total projected capital expenditures for 2025 are between $80 million to $90 million. This CapEx plan includes roughly $70 million to $80 million dedicated to annual maintenance spending plus project carryovers. Finance: draft 13-week cash view by Friday.

Clearwater Paper Corporation (CLW) - Canvas Business Model: Revenue Streams

Clearwater Paper Corporation's revenue streams are primarily anchored in its production and sale of paperboard products, with a significant focus on Solid Bleached Sulfate (SBS) paperboard. This core business forms the foundation of the company's top line.

As of November 2025, the Trailing Twelve-Month (TTM) revenue for Clearwater Paper Corporation stood at $1.55 billion. This figure reflects performance across the preceding four quarters leading up to that point in late 2025. Furthermore, the company's outlook for the full fiscal year 2025 projected total revenue to be in the range of $1.5 billion to $1.6 billion.

The company's revenue generation is heavily weighted toward its existing product lines, but strategic investments are being made to diversify and capture new revenue opportunities. Clearwater Paper Corporation is actively exploring expansion into new product lines, specifically mentioning Coated Unbleached Kraft (CUK) and Recycled Paperboard (CRB).

The push into CUK involves a potential capital project, estimated around $50 million, to retrofit an existing SBS machine, allowing the company to switch production between high-quality SBS and CUK based on market demand. This move is designed to better serve customers and optimize asset utilization, creating a new potential revenue stream as these capabilities come online, with production expected to start approximately 18 months after a final decision, which is anticipated by year-end 2025.

You can see a snapshot of recent sales performance below, which feeds into the TTM calculation:

Metric	Value (Q3 2025)	Comparison
Net Sales	$399 million	1% increase versus Q3 2024
Paperboard Shipments Volume	324,198 tons	3% increase compared to Q3 2024
Paperboard Average Net Selling Price	$1,160 per ton	3% decrease compared to Q3 2024

The revenue streams are further segmented by product focus, with the core business being:

• Sales of Solid Bleached Sulfate (SBS) paperboard, which makes up approximately half of the total paperboard market.
• Revenue growth from the Augusta acquisition, which contributed to Q2 2025 net sales.
• Revenue derived from the Foodservice business, which saw increased shipments in Q2 2025.

The company is also focused on capturing revenue from future product diversification:

• Expansion into CUK (unbleached paperboard) capability.
• Exploring entry into CRB (recycled paperboard), potentially via acquisition.
• Developing lightweight and compostable product offerings, though these are projected for 2026.

Finance: draft 13-week cash view by Friday.