Cellu Tissue (CLU)

This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs:   Globe Specialty Metals   •   LogMeIn   •   Invesco Mortgage Capital   •   Medidata   •   Chemspec

 

Cellu Tissue. (CLU) (NYSE:CLU) produces tissue, paper, and plastic products. The North American tissue market exceeded 9 million tons in 2008, and from 1995 to 2008, the American tissue demand grew 32%. Thus, the company has nine manufacturing facilities and has grown its production capacity of tissue rolls from 264,171 tons as of 28 February, 2006, to approximately 327,000 tons as of November 26, 2009. ^[1]

The company's initial public offering (IPO) of stock was filed on 16 October 2009 and began trading on an exchange on 21 January 2010. With a proposed offer price from $15.00 to $17.00, the actual offer price was only $13.00. The company offered 8.3 million shares. ^[2]

In the TTM 26 November 2009, Cellu Tissue had $515.3 million total revenue by selling 331,425 tons of tissue, up 2.4% from $503.2 million total revenue in TTM 26 November 2008. In addition, it made a net income of $11.0 million, up 111% from a net income of $5.2 million net income the company made in TTM 26 November 2008. ^[1] As of 26 November 2009, tissue, the segment of facial and bath tissue, represented 77.7% of total revenue, machine glazed tissue, the segment of paper rolls distributed to the party that makes food wraps and gum wraps, represented 20.9% of total revenue, and foam, the segment of plastic materials, represented 1.5% of total revenue.

References

1. ↑ ^{1.0 1.1} Cellu Tissue S-1/A
2. ↑ Recently Priced IPOs