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The PM40 closed Friday, 13 August 2021, at 4353.

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 3 September 2021 up 46.3% from the 4 September 2020 level.

In this issue of Disconnected Comparisons, we evaluate Schweitzer-Mauduit and 3M.

Reported insider trading since the last issue of PaperMoney.

Serendipitously, we drove by the Columbia Pulp Mill in Lyons Ferry, Washington one day while driving through the region called the Palouse. The Palouse is an amazing geographical area rich in agriculture, particularly small grain (wheat, barely, etc.). They have wheat straw (the feedstock for Columbia Pulp) coming out their ears, so to speak. In times past, I have been not too kind in my comments about this facility and the attempt once again to make wheat straw pulp. However, they may succeed, and if the management would choose to school me on their experience and plans, I'll make a sincere effort to get by and see the mill sometime soon.

ABB has been contracted by machine supplier Voith to deliver drives and electrification to support the build of SCA's new kraftliner machine PM2 at its Obbola mill in Umeå, Sweden.

ANDRITZ has received an order from Visy Pulp & Paper for a 243,000 m3 chip handling and storage system, including a Stacker Reclaimer RST360, for its Tumut mill in New South Wales, Australia.

Start-up is planned for 2023.

Kadant Inc. has completed its acquisition of Balemaster for $54 million in cash, subject to certain customary adjustments. Balemaster will become part of Kadant's Material Handling reporting segment.

The new equipment will be installed on PM7 at Linping's Xiao mill and startup is scheduled for 2022.

The raw material is local wastepaper.

Kadant Fiberline (China) Co. Ltd., a subsidiary of Kadant Inc. (NYSE:KAI), announced it received an order to supply multiple direct discharge disk filters to Shanying International Holdings Co., Ltd. for pulp thickening.

Karl has been with Kadant U.K. for over 16 years supporting the fluid handling and doctoring, cleaning, and filtration product lines.

Kemira, a global chemicals company, announces 10-15% price increases across pulp bleaching chemicals hydrogen peroxide and sodium chlorate in the EMEA region. The adjustments will be effective immediately or as contracts allow.

Metsä Fibre and the construction company Lehto Group have entered into an agreement to build an ecological operating office from wood for the Kemi bioproduct mill in Finland. The operating office will have a high degree of Finnish origin, approximately 80%, Finnish wood and high-quality products made from it will play a major role in the construction project.

Working with an independent consulting firm, Solenis prepared the report to increase transparency and outline its efforts to sustainably improve operational efficiency and productivity.

Valmet will build its fourth service center in China, in the city of Beihai, to further develop its local presence in the fast-growing pulp and paper industry in the Guangxi province. Valmet's new Guangxi Service Center will be in operation by the fourth quarter in 2023.

Valmet will supply key paper machine technology, which includes several upgrading works, to Muda Paper Mills Sdn. Bhd. for its PM 9 in Malaysia.

Valmet will supply a multifuel power boiler and auxiliary process equipment to Kipaş Kağit Sanayi Isletmeleri A.Ş.'s paper mill in Kahramanmaraş, Turkey. The new boiler will improve the reliability of the paper mill's steam and electricity supply. Additionally, its steam production capacity will be sufficient for the mill's future paper machine PM 4.

Valmet will supply a paper machine grade conversion rebuild to one of its major customers in Indonesia. In the project, paper machine, which was originally producing fine paper grades, will be rebuilt to produce brown grades.

This approval means that Valmet´s climate targets support the Paris Climate Agreement's goal to limit global warming to 1.5°C and are based on the latest climate science.

Shandong Huatai Paper decided to rebuild and modernize PM 11 in order to progressively convert newsprint production to high-quality graphic paper.

A leader in its industry and ranked 17th among the Global 100 Most Sustainable Corporations in the World, the Québec company is once again showcasing its environmental values combined with technological innovation.

The lightweight and shock absorbing properties make Papira an especially attractive alternative for protective packaging applications. It is also a cutting-edge material created for a circular bioeconomy.

Holmen Iggesund launches paperboard coated with Bio E, a barrier coating solution made from 75% renewable raw materials and approved for industrial composting.

An innovative corrugated bin for face masks by Metsä Board, part of Metsä Group, has been awarded a ScanStar in a Nordic packaging design competition organised by the Scandinavian Packaging Association. The mask bin, made of lightweight and durable corrugated board, helps to collect and dispose of used face masks easily and safely. Metsä Board developed the concept together with packaging design agency Futupack and corrugated board converter Capertum.

Södra's investment in circularity continues. Through a new partnership with Swedish company Trioworld, Södra's timber packaging will now contain 30 percent recycled plastic, which will reduce annual emissions from the packaging by around 23 percent.

Stora Enso joins new partnership with Build-in-Wood. Stora Enso is replacing outgoing Norwegian partner Splitkon who is leaving the project due to changed priorities following Covid-19.

Stora Enso has received four Nordic ScanStar awards for convenient, eco-friendly packaging designs that replace plastic. All winning designs are made of renewable wood fiber. This year the ScanStar awards received a total of 32 submissions from the Nordic countries and 14 awards were given out. The jury assessed the level of competition to be high.

As a result, Canfor's BC mills are expected to operate at approximately 80% of production capacity and operating schedules may continue to vary as economic conditions warrant.

Domtar Corp. said it terminated an offer to repurchase bonds and strip key protections from its debt covenants after investors pushed back against the below-market price offered by the paper manufacturer.

International Paper global papers spinoff, Sylvamo Corporation, will host an Investor Day event Sept. 9, from 10 a.m. until noon EDT (9-11 a.m. CDT).

R.R. Donnelley & Sons Company announced that the Company's Board of Directors (the "Board") has amended the Company's stockholder rights plan (the "Rights Plan") to extend its final expiration date to August 28, 2022.

SCA increases prices on brown and white kraftliner by Euro 50 per tonne in Europe. The new prices are valid from October 1, 2021.

Sonoco-Alcore S.a.r.l. announced that due to inflationary pressures on the business, it will raise prices by 8 percent on all tube and core grades sold in the Company's EMEA regions. The increase will be effective for all shipments made on or after the 1st September 2021.

Finding new ways to address our environmental challenges is reliant on our ability to foster innovation to find ways of driving systemic change.

Sonoco ThermoSafe, a unit of Sonoco and the leading global provider of temperature assurance packaging, and Korean Air, one of the world's largest air cargo carriers, announced a global partnership agreement for the leasing of the new Pegasus ULD® temperature controlled bulk shipping container.

Graphic Packaging Holding's acquisition of AR Packaging Group AB is under investigation by the United Kingdom's Competition and Market's Authority (CMA).

The latest investment is being used to expand the current Grand Rapids facility by adding an additional 55,000 square feet for manufacturing, warehousing and office space.

The company confirmed an upcoming $17 million investment in the sawmill, a significant increase from what it initially committed to the project.

Smurfit Kappa announced it is investing $22 million to expand its corrugated plant in Culiacan, North-West Mexico. It demonstrates the company's continued commitment to the Mexican market with expanded capacity, capabilities and products offerings for local customers in the fresh produce segment.

Avery Dennison Corporation announced it completed the acquisition of Vestcom for the purchase price of $1.45 billion, subject to customary adjustments.

Essity has finalized its acquisition of 45.8% of the shares in Colombian hygiene company Productos Familia S.A. ("Familia"). Essity now owns 95.8% of Familia. The purchase price amounts to USD 1,540m (approximately SEK 13bn) for 100% of the company on a debt free basis. The acquisition is expected to be accretive to Essity's earnings per share from 2021.

Headquartered in Sylva, North Carolina, JPM specializes in the manufacturing of 100% recycled medium, corrugated sheets and digitally printed corrugated packaging.

Rayonier Advanced Materials Inc. announced that it has completed its previously announced sale of its lumber and newsprint assets (the "Purchased Assets") to GreenFirst Forest Products Inc. ("GreenFirst"), a Canadian lumber company, for a total purchase price of approximately US$235 million, subject to final adjustments.

Rengo announced that it was resolved at its Board of Directors' meeting that it will take over all shares for subscription of Taiko Paper Mfg., Ltd. (TPM) through third-party allocation on September 1, 2021 and make it a wholly owned subsidiary.

Lecta announces a change to its senior leadership team. Eduardo Querol, Group's CEO, will step down from that role and will become Vice Chairman of the Group and Special Advisor to the Chairman.

Kimberly-Clark Corporation has announced a series of executive leadership changes in support of its global business.

In this newly created, standalone role, Mr. Owenby will be responsible for all Pactiv Evergreen operating functions globally, assuming the operations leadership responsibilities that Mike Ragen, Pactiv Evergreen's Chief Financial Officer (CFO), accepted in 2018.

That fact that the Board continues to defend and extend the poison pill despite clear opposition from its stockholders, and over and above the objections of shareholder advisory firms, such as Institutional Shareholder Services ("ISS"), who have clearly opposed retention of the poison pill, only serves to demonstrate that the Board's interests are not aligned with those of its stockholders and fresh perspectives are sorely needed in the boardroom.

Stora Enso has completed the union negotiations regarding the closure of pulp and paper production at Kvarnsveden. A total of 340 people will be permanently laid off.

Roseburg announced plans for a multi-million dollar investment in new technology at its Western manufacturing operations, the result of an extensive analysis of strategic business opportunities in the West. As part of the restructuring, the company will close its particleboard plant in Dillard, Oregon, and offer current team members employment opportunities elsewhere in the organization.

Just when people thought things were returning to "normal," another round of hoarding has begun.

Herbal Essences and international recycling leader, TerraCycle, announce the latest impact of their longtime national recycling program: The installment of 20 benches made from recycled hair care packaging, in three nature preserves maintained by The Nature Conservancy (TNC) and the planting of over 60,000 trees throughout the United States.

The 2021 forest fire season has impacted tens of thousands of British Columbians in communities across the province. The donation will be used to support immediate relief efforts for families and help with long-term recovery and preparedness for future events.

Cascades is pleased to announce that the Science Based Targets initiative (SBTi) has approved its greenhouse gas (GHG) emission reduction targets.

The National Fish and Wildlife Foundation (NFWF) announced $5.3 million in grants to restore, enhance and protect longleaf pine forests in nine southern states. The grants will leverage $6.9 million in matching contributions for a total conservation impact of $12.2 million.

Rayonier Inc. has released its 2020 Sustainability Report, which highlights actions the Company is taking to enhance the long-term well-being of its investors, employees, communities, and other stakeholders. This report illustrates Rayonier's commitment to transparency around Environmental, Social, and Governance (ESG) factors and how they are incorporated into its strategic and operational decision-making.

Officials at the Sappi Somerset Mill said Monday that although Gov. Janet Mills has assured them the mill will not close in response to issues with relicensing the Shawmut Dam, they are still concerned about the future.

Conifex Timber Inc. announced that it has made the difficult decision to temporarily curtail lumber production at its Mackenzie, British Columbia sawmill for two weeks commencing August 23, 2021.

The Putnam County Fire Department ramped up to battle a sawdust fire Tuesday morning, Aug. 31, at the Georgia-Pacific facility just north of Palatka, even requesting assistance from neighboring Clay County.

Volunteer fire departments extinguished an industrial fire at the Georgia-Pacific Paper Mill Wednesday, Sept. 1.

A new kraftliner production line, PM 27, which was supplied by Valmet to Klabin, was successfully started up at Puma Project in Ortigueira, Paraná, Brazil.

Thunder Bay firefighters and four pumper trucks responded Wednesday morning to what a spokesperson called a "stubborn" fire that heavily damaged a large piece of equipment in the Resolute sawmill wood yard.

Metsä Tissue appoints Tobias Lüning as Senior Vice President, Central Europe. Tobias has previously held various leadership positions within Metsä Tissue, latest as Vice President Supply Chain, West und Country Manager Germany.

Per Ivar Berg (58) has been appointed new Managing Director at Norske Skog Saugbrugs AS from February 1, 2022.

Resolute President and Chief Executive Officer Remi G. Lalonde was joined by Ignace mayor, Penny Lucas; Reverend Jeanne Bryan, rector at Emmanuel Anglican Church; Heidi West, executive director, Mary Berglund Community Health Centre; Heather Norhaugen, a volunteer at Northern Critters in Need; as well as fellow executives and sawmill management and employees.

This past Friday, Aug. 27, a Sonoco warehouse on Stults Road in South Brunswick caught fire for the second time this year. The origins of the fire are unknown at this time and are under investigation by the South Brunswick Fire Safety Bureau.

In the early morning hours of Wednesday, Aug. 18, an explosion rocked a relatively small building at Canton's Evergreen Packaging Paper Mill.

Weyerhaeuser has announced the appointment of Travis Keatley as senior vice president of Timberlands, effective Sept. 13. Keatley has served as vice president of Western Timberlands for the company since January 2020, and his appointment follows the planned retirement of Adrian Blocker, who will stay on through mid-October to serve as a senior advisor and aid in the transition.