Archives

The PM40 closed Friday, 17 December 2021, at 4375.

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 December 2021 up 21.5% from the 18 December 2020 level.

In this issue of Disconnected Comparisons, we evaluate Glatfelter and Sappi.

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, close to 150 papermaking innovators and legends have been enshrined. This month, we profile Matti Kankaanpää, who was inducted into the Hall of Fame in 2003.

Andritz has successfully started up the first Andritz COMPACT PRESS wash press at BillerudKorsnäs' Gruvön mill located in Värmland, Sweden.

Minerals Technologies Inc. announced that it has entered into two separate long-term agreements.

Valmet will supply a long-term Performance Agreement and a board machine rebuild to Metsä Board Husum in Sweden. The main goal is to increase board machine BM 1's Overall Equipment Efficiency (OEE) and annual folding boxboard (FBB) capacity by 200,000 tonnes. Valmet delivered BM 1 to Metsä Board in 2016. The start-up of the rebuilt BM 1 is scheduled to take place in the fall of 2023.

A project of this size and scope is typically valued at around EUR 60-70 million.

Valmet will supply a grade conversion rebuild to VPK's Alizay mill in France. In the project, the paper machine, which currently produces fine paper grades, will be rebuilt to produce recycled lightweight containerboard grades to support Alizay's plans for long-term sustainable development in circular economy.

The Lenzing Group, a world-leading provider of wood-based specialty fibers, has been recognized for leadership in corporate sustainability by global environmental non-profit organization CDP, securing a place on its prestigious "A List" for tackling climate change as well as acting to protect water security and forests.

Essity has once again been recognized for its leadership in sustainability by the global non-profit environmental organization CDP. The company was awarded a place on CDP's prestigious A List for its work in combating deforestation. Essity is also recognized for its environmental leadership in the index for climate change, achieving A- from CDP.

According to a report by Arizton, an advisory firm providing comprehensive market intelligence reports and advisory and consulting services, the demand for the medical face masks was high as the impact of Covid-19 pandemic continued to expand.

Mondi, a global leader in packaging and paper; IMA Ilapak, world leader in the design and manufacture of automatic machines for packaging and Les Crudettes, leading French company in the fresh vegetables market, have won three prizes at the prestigious French packaging award and the Trophées de l'innovation LSA for a new paper packaging.

The LP Foundation's philanthropic focus aligns closely with LP's vision, values and purpose of Building a Better World™. Donations are directed at nonprofits and public schools within the following categories: housing; environment; K-12 public education; and diversity, equity and inclusion.

Mondi, a global leader in packaging and paper, received nine awards in six categories at this year's WorldStar Packaging awards. Open to packaging companies around the world, the WorldStar awards recognise the best ideas, innovations and technologies on the market, with a focus on sustainability, product protection and end-user convenience.

Global packaging and paper leader Mondi has been recognized by CDP with a prestigious Triple A score for the second year in a row. Of the nearly 12,000 organizations rated, Mondi is one of only 14 worldwide to achieve a Triple A score for its sustainability performance on climate, forests and water security.

PotlatchDeltic Corporation announced that it has been recognized as one of "America's Most Responsible Companies 2022" by Newsweek. This prestigious award recognizes the top 500 most responsible companies in the United States across 14 industry categories. PotlatchDeltic was ranked 209 on the overall list.

Single-use razors are usually made out of Polystyrene, but where ecoShave wanted to launch a more sustainable version of the classic grooming product. ecoShave was looking for a way to stand out from the traditional solutions and design a disposable single use razor where both the packaging and product is made from sustainable materials.

Resolute Forest Products Inc. announced that its board of directors authorized the repurchase of up to $100 million or 10 million of the company's common shares, whichever occurs first. Repurchase transactions will be funded using the company's sources of liquidity.

Sonoco provided an overview of its five-year strategic plan and 2022 financial guidance during a virtual meeting with investors.

Glatfelter Corporation, a leading global supplier of engineered materials, in cooperation with joint venture (JV) partner ALPLA Group, the global packaging solutions and recycling specialist, announces their partnership with Blue Ocean Closures (BOC), a startup based in the region of Värmland in Sweden, to develop innovative natural fiber-based closures and other molded packaging products using dryforming technology.

HelloFresh, the world's leading meal kit company, and its community partners in Georgia, Second Helpings of Atlanta and Pratt Industries, celebrated the donation of one million pounds of food from its Newnan, Georgia, Distribution Center, to benefit at-risk communities.

Sonoco ThermoSafe, a unit of Sonoco and the leading global provider of temperature assurance packaging, and Asiana Airlines Inc., a South Korean airline headquartered in Seoul, are pleased to announce a global partnership agreement for leasing the new Pegasus ULD® temperature-controlled bulk shipping container. The agreement enables pharmaceutical freight forwarders access to Pegasus ULD® containers directly from Asiana Airlines.

The investment is a further step in Holmen's strategy to grow the wood products business and contribute to the green transition. This will increase the production at Iggesund Sawmill by 20 per cent as well as adding construction timber on top of its joinery products range.

Brazilian pulpmaker Klabin SA announced on Wednesday it will invest 4.7 billion reais ($836.72 million) in 2022, of which 2.75 billion reais are expected to go to the development of its Puma 2 project.

KP Tissue Inc. and Kruger Products L.P. announced KPLP's plan to add to the capacity of its Sherbrooke expansion project by constructing a double width Light Dry Crepe (LDC) tissue machine with a capacity of at least 60,000 MT instead of the previously announced 30,000 MT LDC tissue machine.

That 650,000-square-foot mill will employ approximately 120 people and be completed by 2023.

The investment includes new production lines, new workspaces and 720 square meters of completely new production space.

Canfor Corporation is announcing that it has entered into an agreement with Millar Western Forest Products Ltd. to acquire the company's solid wood operations and associated tenure for $420 million, including $56 million in working capital.

CMPC says it will purchase the forest and industrial assets of the pulp, paper and sack businesses of Iguaçu Celulose, Papel S.A., located in the States of Paraná and Santa Catarina of Brazil.

Closing of the transaction is expected to take place on 31 December 2021.

R.R. Donnelley & Sons Company (RRD) Tuesday said it has agreed to be acquired by affiliates of Chatham Asset Management, LLC, a private investment firm, in an all-cash transaction with a total enterprise value of around $2.3 billion and total equity value of about $897 million. The company said it has terminated its previously announced merger deal with affiliates of Atlas Holdings LLC.

The purchase price for the acquisition is $1.35 billion in cash, subject to customary adjustments, including for working capital, cash and indebtedness.

SWM International has finalized the sale of its former Spotswood, New Jersey facility to an undisclosed buyer, with net proceeds of approximately $35 million.

Interfor and the Simpcw First Nation have completed the first direct transfer of a forest tenure to a B.C. First Nation since the introduction of the provincial government's Bill 22.

West Fraser Timber Co. Ltd. announced that further to its news release of October 26, 2021, the Company has completed the acquisition of the oriented strand board ("OSB") mill near Allendale, South Carolina.

Wynnchurch Capital, L.P., a leading middle market private equity firm, announced that it has acquired the thermal coating business assets of Appvion Holding Corp. and its subsidiaries. Founded in 1907 and headquartered in Appleton, Wisconsin, Appvion is a leading provider of specialty and high-performance direct thermal coatings for label and film solutions as well as renewable, fiber-based consumer and industrial packaging solutions.

Georgia-Pacific Corp. announced that will add a new paper machine, converting equipment and 150 new jobs.

International Paper will build a state-of-the-art corrugated packaging plant in Atglen, Pennsylvania. The facility will employ approximately 150 team members.

Rayonier Advanced Materials Inc. announced that its Board of Directors elected Vito J. Consiglio to succeed Paul G. Boynton as President and Chief Executive Officer and Board member effective January 1, 2022. Mr. Boynton, who has served as President and CEO since the Company's spin-off in 2014, announced his decision to retire from the Company, and, as part of the leadership transition, he will assume the role of Vice Chair of the Board until the May 2022 Annual Meeting.

Resolute Forest Products Inc. announced the indefinite idling of pulp and paper operations at its Calhoun (Tennessee) mill. Tissue manufacturing and converting will continue at the site and the adjacent distribution center will remain in full operation.

Sean McLaren, currently the Company's President, Solid Wood, will become the Company's Chief Operating Officer.

Ahlstrom-Munksjö continues to focus on the growth segment of electrification, expanding its latest product offering, totally dedicated to filtration media solutions for electric vehicles. The new solutions for fuel cell electric vehicles complement the products launched earlier in the year for all electric vehicles, including filtration solutions for cabin air, transmission and cooling systems.

Apex Clean Energy announced the execution of an agreement with Weyerhaeuser for the development of 1,000 megawatts of utility-scale solar and solar-plus-storage projects on Weyerhaeuser property in the southeastern United States.

The environmental assessment process is officially under way for Northern Pulp's estimated $350-million plan to reopen its idled kraft pulp mill in Nova Scotia's Pictou County.

Sappi Limited, a leading producer of dissolving pulp sold under the brand name Verve, continues to reach new milestones by completing the Higg Facility Environmental Management (FEM) verification audit at its Cloquet Mill.

Smurfit Kappa has completed a two-phase upgrade of its facilities at the Barranquilla Paper Mill in Colombia. The $7.5 million investment saw the implementation of a wastewater treatment plant with state-of-the-art anaerobic technology, which reduces water intake from the nearby Magdalena River and improves the quality of water returned to it.

Sofidel, a global leader in the production of paper for hygienic and domestic use, particularly well-known in Italy and Europe for its Regina brand, has obtained the maximum score - an "A" rating - from CDP for its commitment to the fight against climate change.

Warehouse workers at Veritiv, represented by Teamsters 117, have voted unanimously to authorize a strike. The strike authorization vote was taken by employees at the packaging giant's facility in Kent, WA and comes after three months of unsuccessful contract negotiations and a number of COVID-related health and safety concerns raised by workers.

Cariboo Pulp and Paper was shut down for 16 days on November 29th, and Quesnel River Pulp was down to one third capacity for two weeks.

Firefighters were able to quickly contain the fire to keep it from causing any major damage to the building.

Damage from the Nov. 30 fire at the Packaging Corporation of America facility in Harrisonburg has been estimated at $1 million, according to a Thursday press release from Michael Parks, city spokesperson.

The strike would start at the mills on Saturday 1 January 2022 at 6.00 EET except at the Lappeenranta biorefinery, where the strike would start on 1 January 2022 at 7.00 EET. The strike would end on 22 January 2022, at 6:00 EET, unless an agreement for a new collective agreement is reached before then.