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BRIEF-Clearwater Paper to close Oklahoma City tissue converting facility, restructure Neenah Mill

Nov 29 Clearwater Paper Corp :

* Clearwater Paper to close Oklahoma City tissue converting facility and restructure Neenah Mill

* All of facility's 131 employees will be impacted

* Clearwater Paper intends to run its Oklahoma City facility until its permanent closure on March 31, 2017

* Clearwater Paper's Neenah location will permanently shut down two of company's highest-cost tissue machines

* Expects total impact of non-recurring exit related costs to be about $13 to $16 million

* Says 3 remaining tissue machines will continue to manufacture an array of private label and away-from-home tissue products

* Permanent shut down of two of company's highest-cost tissue machines to affect approximately 85 of facility's about 400 employees

* Cost savings benefits resulting from facility consolidation are expected to be $10 million on annual basis, with $7 to $9 million in 2017

* Permanent shut down of two of company's highest-cost tissue machines to remove total production capacity of 32,000 tons beginning December 31

* $4 million to $6 million of non-recurring exit related cost expected to be incurred this year with remainder in 2017 Source text for Eikon: Further company coverage:

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