Archives

The PM40 closed Friday, 15 May 2020, at 2363.

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 15 May 2020 down 32.5% from the 17 May 2019 level.

In this issue of Disconnected Comparisons, we evaluate Ennis, Inc and Brookfield.

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 the late Averill John Wiley, who was inducted into the Hall of Fame in 2017.

Valmet will supply the seventh tissue line delivery including an extensive automation package to Turkish tissue producer Hayat Kimya.

Valmet will supply an ash crystallizer plant with a capacity of 300 tons of ash per day to LD Celulose S.A. in Brazil.

Voith Group successfully completed on the acquisition of Toscotec S.p.A. Technology Group Voith acquired 90% of the shares.

Huhtamaki is expanding the production of its CE marked high-quality protective face shields for health care workers and others that need increased hygiene and safety protection.

Smurfit Kappa has launched a portfolio of products designed to help businesses, schools and offices resume operations in accordance with safety guidelines as Covid-19 lockdown restrictions start to be reduced.

In early March 2020, we informed you that our IT systems had been affected by malware. During this period, we faced some challenges running a manual operating system to fulfill our customer orders and commitments. Today, we have full visibility of our order fulfillment process and expect to return to the excellent customer service levels to which you are accustomed.

Sonoco announced it is increasing prices for all rigid paper containers and closures sold in North America by a minimum of 5.5 percent, effective with shipments on, and after, June 8, 2020.

Ahlstrom-Munksjö, Filterpak and K Group will start in co-operation the production and supply of face masks for civil use in Finland. The first batch of masks will be available at the end of May.

Researchers at Saint Mary's University in Halifax are investigating whether Nova Scotia fir and spruce can be converted into pulp for use in medical masks, disposable gowns and even bedpans..

Stora Enso and Cordenka have signed a joint development agreement to develop precursors for bio-based carbon fiber. The co-development is driven by the need for high performance carbon fiber in transportation, construction and power generation.

Veritiv Corporation announced that its Canadian division, Veritiv Canada Inc., will be the exclusive Canadian distributor of coated board from China from Asia Pulp & Paper (APP).

LP Building Solutions announced that, due to the public health and safety concerns related to the COVID-19 pandemic, the company will change its 2020 Annual Meeting of Stockholders to a virtual-only format instead of an in-person meeting.

Quad/Graphics, Inc. announced that due to the public health impact of the coronavirus (COVID-19) pandemic, and to support the health, well-being and safety of its shareholders, employees, other stakeholders and communities, the Company will provide webcast and telephone access to its 2020 Annual Meeting of Shareholders to be held at 10:00 a.m. CT (11:00 a.m. ET) on May 18, 2020.

The Southeast Texas Record is reporting that a June 2017 Jefferson County Jury verdict for $122 million in damages against International Paper, Inc. has been trimmed down to $14.8 million by the Texas 13th Court of Appeals. The verdict came following a breach of contract lawsuit filed by Signature Industrial Services of Beaumont.

IT Tech Packaging, Inc. announced the Company plans commercial launch of a new tissue paper production line (the "PM10").

Quad, the magazine printer that has major operations in Saratoga Springs, is looking to add two new presses at its local site in a $45 million expansion plan.

McGraw-Hill and Cengage announced that they have mutually agreed to terminate their proposed merger of equals, which had been announced in May 2019. The decision was unanimously approved by the Boards of Directors of McGraw-Hill and Cengage. The Termination Agreement foresees no payment of a break fee on either side.

Rayonier Inc. announced the completion of its previously announced acquisition of Pope Resources, A Delaware Limited Partnership. Unitholders of Pope Resources approved the transaction at a special meeting of unitholders held on May 5, 2020.

A printing company with a local history that goes back more than 100 years is closing its Henrico County plant and laying off 184 employees.

The Occupational Safety and Health Administration is continuing its inspection of the Pixelle Specialty Solutions LLC paper mill that was heavily damaged in an explosion April 17.

The mill has been idle since November when Niagra Worldwide purchased the property and assets at scrap prices for $2.2 million after Flambeau River Papers put the mill into a receivership saga that lasted over six months.

Resolute Forest Products Inc. is temporarily laying off more than 1,000 workers mainly in Quebec because of the COVID-19 pandemic.

Twin Rivers Paper has once again announced a leadership change. President and CEO Bob Snyder will retire from Twin Rivers effective immediately, and Tim Lowe has been appointed by the Board of Directors to assume his role in an interim capacity.

Graphic Packaging has notified the Louisiana Workforce Commission of 56 planned layoffs in West Monroe.

North Pacific Paper Co. in Longview has cut staff and curtailed production in response to a "significant, sudden change" in orders due to the coronavirus, company officials said.

The Rayonier Advanced Materials Inc. Board of Directors has elected De Lyle Bloomquist to serve as Chair of the Board. The Company previously announced the separation of the roles of Chair and Chief Executive Officer (CEO).

A new slate of state-imposed operational rules will require International Paper to pay $190,000 in penalties, implement a $1 million environmental mitigation project and pay a $10,000 fine each time it fails certain water quality tests.

The Nova Scotia government says it is providing a maximum of $10 million under an agreement with the Northern Pulp mill to help with the cleanup of the site while the mill is in hibernation.

Sustana Fiber says its mill in Lévis, Quebec, has begun accepting beverage and food cartons for recycling, thereby becoming the first mill in Canada to recycle cartons in the last 20 years.

Over the last decade, the U.S. paper industry achieved a consistently high recycling rate, meeting or exceeding 63 percent since 2009 -- a rate that's nearly doubled since 1990, when the industry first set a paper recycling goal.

Canfor's Plateau mill, west of Vanderhoof will reopen May 11, operating only four days a week, officials said.

Conifex Timber Inc. announced that, in response to continued weakened global demand for forest products amid sustained uncertainty from the economic impact of the COVID-19 pandemic, it is extending its temporary production curtailment at its Mackenzie, British Columbia, Canada sawmill for four weeks to June 1, 2020.

Firefighters responded to an explosion in Monroe early Saturday morning, May 9.

While the tourism and hospitality industry has been hit hard by the coronavirus, the two pulp mills in Fernandina Beach - Rayonier Advanced Materials and WestRock - are up and running, with no layoffs or employee furloughs.

The Fibre Box Association (FBA) Board of Directors elected Cathy Foley, Vice President Industry Relations and Supply Chain at Pratt Industries, as the Association's 2020 - 2021 chairman.

Georgia-Pacific will "cease operations" at its lumber facility in DeQuincy due to market conditions, the company announced over the weekend.

Georgia-Pacific will lay off most of its hourly employees in Toledo for a week due to lack of demand.

The Georgia Pacific facility in Madison would remain closed until at least May 4 after eight employees tested positive for the coronavirus and one employee died from the highly contagious upper-respiratory disease. The plant has more than 100 employees self-quarantining after coming into contact with those who tested positive for COVID-19.

Greif announces the closure of its La Palma, CA plastics and fibre facility. The widespread and diverse economy throughout California requires a more strategic and dedicated approach to the unique business dynamic.

An explosion shook the community's industrial area May 11. The incident was sparked at the Pinnacle pellet plant shortly before 3 a.m.

In the early evening on the 12th of May Sappi Europe's Alfeld Mill site, situated in Germany, reported a fire around the area of its paper machine 3. There have been no recorded casualties and an evaluation by official experts is under way to assess the cause of the fire and the resulting damage to the paper machine.

Södra has now ended the furlough scheme introduced at the sawmill and port at Mönsterås in April in light of reduced demand related to the ongoing pandemic.

An employee at Sonoco of Hartsville was injured in a workplace accident Monday night at the company's number 4 mill, according to Brian Risinger with Sonoco Corporate Communications.

The USG building products facility in Cloquet has temporarily closed for deep cleaning as three employees have now tested positive for COVID-19.

Verso Corporation's Quinnesec Mill will undergo a 2-week mandatory maintenance beginning May 16th. Verso will be utilizing the services of both local and remote contractors. This is to perform an inspection.

The layoffs are expected to last at least 30 days.