Capital Projects
Departments
The future of papermaking in central Maine is in doubt as a deal to buy the Millinocket and East Millinocket mills falls through.
The PM40 closed 08 April 2011 at 2128.56.
In this issue of Disconnected Comparisons, we evaluate Clearwater Paper Corp and International Paper Company.
Supplier News
Andritz has received an order from Holmen AB’s subsidiary Iggesund Paperboard to deliver a biomass boiler island for Iggesund Paperboard (Workington) in Cumbria, United Kingdom.
Market News of Note
Mondi Group today announced its intention to separate its interest in Mondi Packaging South Africa.
NOREXECO
Ziegler Paper Mill, a manufacturer of fine and specialty papers based in Grellingen, Switzerland, increased net production in 2010 by 5%.
Corporate Finance
EACOM Timber Corporation announced a private placement of 60,000,000 common shares for gross proceeds of CAD 30.0 million.
International Forest Products has closed the previously announced public offering of 8,222,500 class A subordinate voting shares.
Sappi announced that it priced its upsized bond offering to raise approximately USD 705 million equivalent of new senior secured notes.
Stora Enso has signed a loan facility agreement with the International Finance
Corporation.
Major Expenditures
Georgia-Pacific has begun the final construction phase at its nearly complete oriented strand board facility at Clarendon, South Carolina.
Holmen has decided to invest in a biofuel boiler at the paperboard mill in Workington, UK
Tembec announced that it will proceed with the construction of a pilot plant for the development of a high performance structural product.
Wausau Paper plans to expand the company's towel and tissue production capabilities.
Mergers & Acquisitions
Graphic Packaging has entered into a definitive agreement to acquire substantially all of the assets and business of Sierra Pacific Packaging, Inc., a producer of folding cartons, beverage carriers, and corrugated boxes for the consumer packaged goods industry.
TimberWest Forest Corporation has entered into a definitive agreement to be acquired by two leading Canadian pension funds.
West Fraser announced that it has entered into an agreement to sell its
Skeena Sawmills Division to ROC Holdings.
Major Announcements
Catalyst Paper announced that it will curtail production by approximately 5500 metric tons at its Snowflake mill.
Nippon Paper Group has resumed operations suspended as a result of the earthquake centered off the coast of Miyagi Prefecture.
Closures/Reductions
In Canada, we are now seeing a reawakening in pulp, due to the Indonesian Sinar Mas group’s ambitious plans to enter pulp manufacturing here.
Final Word
