The economy in Europe and the United States seems to continue to sputter along.
The PM40 closed 27 May 2011 at 2073.35.
The PM40 closed 27 May 2011 up 28.2% compared to the 28 May 2010 level.
In this issue, we evaluate Fibria Celulose S.A. and Louisiana-Pacific Corporation.
Reported insider trading since the last issue of PaperMoney.
Metso will rebuild the folding boxboard machine at the San Juan del Río mill in Mexico.
Metso will supply complete woodyard equipment and defibrator systems for the two new MDF projects of Duratex S.A. in Brazil.
Market News of Note
Corner Brook Pulp and Paper Ltd. is receiving CAD 4.3 million for training to boost the mill’s competitiveness.
Gestion Laurent Lemaire acquires common shares of Cascades.
Sino-Forest Corporation today commented on the share price decline of 02 June 2011 and short seller allegations.
TimberWest Forest Corporation commented on matters raised by the Hul'qumi'num Treaty Group.
R.R. Donnelley & Sons Company has closed an offering of USD 600 million.
The Philippines has won a USD 100 million manufacturing project that would convert corn stalks into paper.
Labor & Union Actions
Paperworkers Union of Canada have voted in favor of a new collective bargaining agreement.
International Paper plans to repurpose a portion of its closed mill in Franklin, Virginia, as a fluff pulp mill.
Sappi Southern Africa plans to expand and modernize the Sappi Ngodwana mill, including the introduction of 210,000 tons/year of chemical cellulose production.
Microfibrillated cellulose precommercial plant offers lighter and stronger materials for renewable packaging.
Mergers & Acquisitions
AbitibiBowater has closed the sale of its 75% indirect interest in ACH Limited.
Norske Skog has entered into an agreement to sell all the shares in the energy company Enerpar to a subsidiary in Brazil.
Rock-Tenn Company and Smurfit-Stone Container Corporation Shareholders Approve Merger
Vienna-based multinational paper trading company Roxcel Group recently signed an agreement to purchase the paper manufacturer Brigl & Bergmeister and Vevce.
Ilim Group notes progress on investment project on cooking pulp from larch wood.
Catalyst Paper indicated that total downtime at its Powell River and Snowflake mills is expected to be 25 days rather than 14.
Ilim Group has manufactured 635,000 tons of market pulp and paper products.
Metsä Tissue is finalizing the full rebuild of paper machine 5 and related facilities in Düren, Germany.
Metso is investing in valve production and services in the United States.
Nippon Paper Industries will restart the production of printing and publication paper at the Ishinomaki mill by the end of September.
RockTenn will close three former Smurfit-Stone corrugated container plants.
Sappi Fine Paper Europe will cease production of coated graphic paper at its Biberist paper mill.
UPM will begin the production of coated fine paper sheets at its Kymi mill in Kouvola, Finland, in autumn 2012.
Forest fires have caused substantial damage to Slave Lake, Alberta, and surrounding areas.
Grays Harbor Paper has announced the permanent shutdown of the Hoquiam,