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The PM40 closed Friday, 17 April 2020, at 2353.

Get the latest PM40 updates by listening to the weekly Nips show and the PM40 Daily Show on Pulp & Paper Radio International.

The PM40 closed 17 April 2020 down 35.9% from the 18 April 2019 level.

In this issue of Disconnected Comparisons, we evaluate Greif and Weyerhaeuser.

Reported insider trading since the last issue of PaperMoney.

Ladies and gentlemen, the first class of inductees to the Paper Industry International Hall of Fame in Appleton, Wisconsin was inducted more than two decades ago in 1995, and today, more than 140 papermaking innovators and legends have been enshrined. This month, we profile Donald Dick, who was inducted into the Hall of Fame in 2019.

On April 6, 2020, Paperitalo Publications did a follow-up survey regarding the coronavirus and how it's affecting the pulp and paper industry. Here are the responses that we received.

Since 1924, Fulton Systems, Inc. is a strategic manufacturer and supplier to the pulp and paper industry.

Kadant Solutions, a division of Kadant Inc., reached a milestone in nanotechnology-enhanced composite doctor blades sales. Since the launch a few years ago nanotechnology-enhanced blades represent Kadant's largest volume composite doctor blade type.

Valmet will supply the 300th Valmet Paper Lab automated board and paper testing laboratory to Papierfabrik Palm's (Palm) Aalen-Neukochen mill.

Valmet will supply a complete mill-wide Valmet DNA Distributed Control System (DCS) to JK Paper Limited for their upcoming board project at Fort Songadh Mill in India.

Specifically, the Spanish business announced that it would manufacture and donate individual bedside tables for patients at IFEMA field hospital, to be handed over to the Regional Government.

The #RollingItForward initiative came out of a shared desire to give back to the people who are working so tirelessly to help Canadians who have been impacted by the COVID-19 pandemic. It will begin in Montreal, before expanding to Toronto and Vancouver.

Smurfit Kappa has launched a new 'Design for Help' portfolio of products to help alleviate some of the current challenges being experienced during the COVID-19 pandemic.

UPM Raflatac is taking a major step toward creating a circular economy by collaborating with SABIC, a global leader in the chemical industry, for the first polypropylene (PP) label film manufactured from post-consumer recycled (PCR) plastic on the market (on a mass balance basis). Now available globally, this label material uses SABIC's groundbreaking TRUCIRCLE™ solutions for certified circular PP products.

The company is planning reductions in plywood production of 25-35% and in EWP volumes of 20-40% depending on location, in comparison to 1Q levels. The reductions in production are expected to be implemented through a combination of periodic curtailments and reductions in operating schedules at specific facilities.

Canfor Corporation is undertaking additional temporary reductions in production capacity due to the impact of COVID-19 on the price of lumber and demand.

Greif, Inc. announced that it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB), effective with shipments beginning May 18, 2020.

IT Tech Packaging, Inc. announced that its tissue paper production lines are now running at full production capacity to fulfill orders. The average selling price of tissue paper increased 8% from USD $836 per tonne to USD $903 per tonne in the first quarter, resulting from growing demand because of Covid-19.

Mondi will not pay a final dividend for 2019, it said on Thursday, as it cuts costs and capital spending after seeing a deterioration in its order book in Europe and South Africa from the end of March.

Norske Skog ASA closely monitors the coronavirus (COVID-19) outbreak and continuously implements adequate measures to reduce the risk for employees and ensure continuity of operations. Norske Skog adheres to the individual recommendations and measures taken by the national authorities.

The new price on bleached softwood kraft pulp, $880 per tonne, is valid from May 1, 2020.

Smurfit Kappa Group PLC said that it is no longer recommending a final dividend for 2019 due to the coronavirus pandemic.

Sonoco announced it is increasing prices for all paperboard tubes and cores sold in the United States and Canada by a minimum of 8 percent, effective with shipments on and after Wednesday, May 13, 2020.

Brazilian pulp and paper company Suzano SA is likely to conclude talks on a pulp price hike in China in the second half of April, its chief executive told journalists in a call on Tuesday.

Ahlstrom-Munksjö and Suominen have signed a multi-year commercial agreement that renews and strengthens the existing co-operation at Ahlstrom-Munksjö's Ställdalen plant in Sweden. The agreement secures supplies from Ställdalen to Suominen's customers for several years and will also considerably improve the companies' joint service to the customers.

Huhtamaki has announced a donation of EUR 0.5 million in support of the International Federation of Red Cross and Red Crescent Societies' (IFRC) COVID-19 appeal. The funds will be channeled via Finnish Red Cross to go towards boosting emergency relief efforts in Asia and Europe and improving the lives of the world's most vulnerable.

Mercer International Inc. reports that its joint venture Cariboo pulp mill in British Columbia, Canada will be taking approximately 4 weeks of downtime starting on or about April 20, 2020, resulting in an approximate reduction of NBSK production of 30,000 tonnes of which Mercer's share is 15,000 tonnes.

West Fraser says it will further reduce its SPF production by 30M to 40M board feet of production per week which represents between 45 and 60% of SPF production.

Cascades announces that as a precautionary measure, it will hold its next annual general meeting in virtual form on Thursday, June 25, at 11 a.m. local time.

Domtar Corporation announced that its Board of Directors has approved a change in the location of its 2020 Annual Meeting of Stockholders to a virtual-only stockholder meeting, to align with public health guidelines regarding the COVID-19 pandemic, including gathering and travel restrictions.

Kimberly-Clark Corporation announced that it will host its 2020 annual meeting of stockholders virtually due to the public health impact of the coronavirus outbreak (COVID-19) and to protect the health and well-being of our employees, stockholders, and our community.

Veritiv Corporation announced that in response to continued public health precautions regarding in-person gatherings given the coronavirus (COVID-19) pandemic, and out of concern for the health and well-being of shareholders, company personnel, and the broader community, the Veritiv Corporation 2020 Annual Meeting of Shareholders to be held on Wednesday, April 29, 2020, at 9:00 a.m. Eastern Time will take place as a virtual meeting only, via live audio webcast. Shareholders will not be able to attend the Annual Meeting in person.

Sonoco announced that its Board of Directors has approved an $83 million investment to strengthen its uncoated recycled paperboard (URB) mill system in the United States and Canada. The majority of the investment includes transforming its Hartsville, S.C., corrugated medium machine (No. 10 machine) into a state-of-the-art URB machine with annual production capacity of approximately 180,000 tons.

The mill was shut down indefinitely as elation over the stunning news that that no one was harmed shifted to worries Thursday about the future of the mill that employs 500 people and is the town's largest taxpayer.

A DuPont employee has died due to COVID-19 complications and four other employees have tested positive at the facility in Chesterfield.

The mill was shut down indefinitely as elation over the stunning news that that no one was harmed shifted to worries Thursday about the future of the mill that employs 500 people and is the town's largest taxpayer.

Sappi's board of directors and the group and regional leadership teams from Europe, North America and Southern Africa have volunteered to take a 10% reduction in salaries or fees for the three months ending June 30.

The Swanson Group is laying off 300 workers from its plywood mill in Glendale and cutting the pay of those still working due to a shortage of orders, as businesses grind to a halt during the COVID-19 pandemic.

West Fraser Timber has obtained from a syndicate of lenders an additional $150 million committed revolving credit facility.

LSC Communications, Inc. and most of its U.S. subsidiaries has voluntarily filed for Chapter 11 Bankruptcy. LSC's subsidiaries in Mexico and Canada are not included in the court proceedings and will continue to operate in the normal course.

Quad/Graphics Inc. said it has temporarily furloughed employees throughout the company and suspended operations at a number of its plants.

Södra Skog is introducing short-time working at its harbour operations in Mönsterås. Due to a reduction in demand in the UK and the Republic of Ireland during the ongoing pandemic, Södra Wood has introduced short-time working at its production facility in Mönsterås and the harbour operations are affected as a consequence of this.

Northern Pulp Nova Scotia has requested Nova Scotia Environment issue a timely, well-defined, and outcome-based Environmental Assessment process for its proposed Effluent Treatment Facility (ETF) modernization.

The former site of the White Pigeon Paper Company -- now owned and operated by Graphic Packaging International -- has been added to the state's list of PFAS contamination sites.

The exponential spread of the COVID-19 virus around the world has caused an exceptional situation, creating strong demand for healthcare goods in general, and specifically for protective medical products that are made from the company's fabrics. It is also expanding manufacturing of fabrics production lines normally used for producing other fiber-based materials and providing support with its in-dept knowledge of fiber-based solutions.

After two employees were diagnosed with COVID-19 at its Terre Haute facility, Amcor said the situation was quickly contained.

Clearwater Paper Corporation announced the appointment of Michael (Mike) J. Murphy as senior vice president and chief financial officer, effective April 13, 2020, to oversee the company's finance and strategy functions. Mr. Murphy succeeds Robert (Bob) G. Hrivnak who will be leaving the company.

Clearwater Paper confirmed the first positive case of COVID-19 among the workforce at its Lewiston mill.

Firefighters rushed to put out a fire at International Paper in Garden City on April 10.

The company confirmed a small fire at the Beech Island facility was quickly contained.

Firefighters from Oxford and at least two other fire departments put out a blaze Saturday afternoon, April 11, at the National Gypsum Company facility near Bynum.

Four employees at a paper mill in Evadale have tested positive for COVID-19 according to a spokesperson.

The Graphic Packaging Management Team in Kenton was notified this past Saturday April 11, that a production employee tested positive for COVID-19.

The Graphic Packaging International mill in West Monroe was damaged in one of two Easter tornadoes that ripped through Ouachita Parish.

As the global outbreak of COVID-19 continues, we wanted to address how Hamburger Containerboard Gelsenkirchen is ensuring that the safety and health of our employees and their families.

The International Paper Corrugated Box Plant in Houston has confirmed its second case of COVID-19.

The company cites an unexpected drop in demand from customers due to the coronavirus pandemic.

Among the businesses in the Shenandoah Valley that have reported positive cases of COVID-19 is LSC Communications.

As you are aware, we have been using manual processes for some of our activities following an incident on February 19, 2020 which affected our ability to utilize certain IT systems.

The meeting will be held May 4, 2020 at 9:00 a.m. Pacific Daylight Time. A replay of the meeting will be available on the Company's website until May 4, 2021.

PotlatchDeltic Corporation announced plans to temporarily halt production at its St. Maries, Idaho industrial plywood facility as a result of the impact of the COVID-19 pandemic on plywood markets. Starting April 20, 2020 the St. Maries, Idaho plywood facility will halt production for two weeks and curtailments may be extended depending on market conditions. All other businesses, including lumber mills in Idaho, Michigan, Minnesota, and Arkansas, continue to operate, but are closely monitoring market conditions.

An employee from Quad/Graphics' West Allis facility passed away on April 8 from COVID-19, the Sussex-based company said in a statement.

R.R. Donnelley & Sons Company announced a series of actions to protect employees, meet client commitments, and preserve financial flexibility in response to the COVID-19 crisis.

Last year, Södra decided to invest in an additional CLT facility at Värö and aims to become a leader in the Nordic region. Project planning and procurement is ongoing and Södra has now selected Ledinek as the supplier of a new production line - from intake to pressing.

There are 650 employees working at Ortviken paper mill. Ortviken produces coated and uncoated paper for magazines, catalogues and commercial print. The production capacity is 775,000 tonnes per annum.

Two employees at the Sappi Fine Paper Mill in Westbrook have tested positive for COVID-19, both of whom appear to have been infected due to exposure outside of the mill.

Verso Corporation announced that Matthew M. Archambeau has been appointed Verso's Senior Vice President, Manufacturing and Energy, effective immediately.

A worker at the Georgia-Pacific facility in Darlington has tested positive for COVID-19.