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The PM40 closed Friday, 1 July 2022, at 3933.

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

In this issue of Disconnected Comparisons, we evaluate Ennis, Inc and Kimberly-Clark.

The PM40 closed 1 July 2022 down 6.5% from the 2 July 2021 level.

Reported insider trading since the last issue of PaperMoney.

Fasten your seatbelts, we are in for a rocky ride.

When should you arrive for an important meeting or video (or conference) call?

ABB has been awarded a software and service contract by Asia Symbol Group in China to provide the ABB Ability™ Manufacturing Execution System (MES) for a new production line, with delivery and commissioning ongoing throughout 2022.

By announcing the following promotions within the senior management team, CR Meyer culminates a thorough and well-crafted succession planning process to lead the company to the next period of growth.

Berneck S.A., the largest wood-based panel exporting company in Brazil, has commissioned Dieffenbacher to supply an 84 MW energy system and the world's largest drum dryer for its medium-density particleboard (MDP) plant in Curitibanos, Santa Catarina. Headquartered in Araucária in the Brazilian state of Paraná, Berneck S.A. specializes in MDP, MDF and HDF production.

The Middle East Paper Company, the largest paper manufacturer in the Middle East and Africa, is deploying solutions from global software company SAP SE in an effort to streamline its business processes and increase efficiencies as part of a regional and global expansion strategy.

Saudi Paper Group (SPG) and Toscotec have signed an agreement of understanding for the supply of a new tissue line to be installed at SPG's paper mill in Dammam second industrial city, Saudi Arabia. The tissue machine will produce 60,000 tonnes/yr of premium quality tissue, bringing SPG's total capacity to 190,000 tonnes/yr.

Valmet's Board of Directors has decided to adjust Valmet's strategy to include Flow Control and align Valmet's financial targets with Valmet's financial reporting structure.

Valmet will deliver two chip washing and defibrator systems to Siempelkamp Maschinen- und Anlagenbau GmbH as part of Siempelkamp's panelboard plant deliveries to two different end customers, one in Europe, one in Asia. The start-ups of the systems are planned for 2023 and the beginning of 2024.

Valmet will supply two Valmet IntelliTissue 1600 tissue machines for Liaoning Yusen tissue mill located in the county of Tai'an, Liaoning province, China.

The annual rankings also cited WIELAND as the 14th largest Industrial Contractor in the US, and the 4th largest contractor in Michigan.

Cascades, a leader in eco-responsible recycling, packaging and hygiene solutions, once again demonstrates its leadership in responsible business practices by ranking 8th on the list of the Best 50 Corporate Citizens in Canada unveiled this morning by the media, research and financial information products company, Corporate Knights.

The commitment of Graphic Packaging International ('Graphic Packaging') to sustainability and to supporting the circular economy is the focus of a new documentary. The short film, which was released on June 17 2022 on reuters.com, reflects upon the leading fiber-based consumer packaging provider's ongoing involvement in an initiative called Vision 2045.

Greif, Inc. announced that it has been certified as a Most Loved Workplace®, backed by Best Practice Institute (BPI) research and analysis. Most Loved Workplace® validation provides the most comprehensive look at workplace sentiment for organizations today.

Mike Rowe's How America Works showcases the country's most essential industries, including one of America's oldest professions: the pulp and paper industry.

Kimberly-Clark announced that it was named one of the Top 75 Companies for Executive Women by Seramount for the sixth consecutive year. The list recognizes U.S.-based corporations that champion women's advancement in leadership roles, with a focus on succession planning, gender pay parity, benefits programs and flexible work policies.

Pactiv Evergreen has announced the launch of its new Tamper Evident Fry Cartons to meet the evolving needs of today's foodservice operators.

A study released today by R.R. Donnelley & Sons Company found the market's most pressing challenges forced packaging decision makers to shift priorities and rethink operations, with 90% changing how their packaging is sourced. The Unpackaging Reality Report explores how converging disruptive issues like supply chain volatility, inflation, labor shortages, and increasing sustainability pressures have impacted the industry.

Sappi North America Inc., a leading producer and supplier of diversified paper, packaging products and pulp, in partnership with the Girl Scouts of Maine, today announced the national rollout of the Paper Scientist Patch program. The patch program teaches girls the science and technology of the pulp and paper industry.

The first HolyGrail 2.0 sorting prototype was successfully validated in March this year following semi-industrial trials, using NIR and digital watermarks detection to sort packaging waste with a 99 percent detection rate and the potential to develop new, more granular post-consumer recycling streams.

IT Tech Packaging, Inc., a leading manufacturer and distributor of diversified paper products in North China, announced that, its Board of Directors has approved a reverse stock split of its common stock, par value $0.001 per share (the "Common Stock") at a ratio of 1-for-10 (the "Reverse Stock Split").

The Letter stated that because the Company's common stock had been trading for a low price per share for a substantial period of time, the Company was not in compliance with Section 1003(f)(v) of the Company Guide.

Quad/Graphics, Inc., a global marketing experience company, announced that it has been added as a member of the U.S. small-cap Russell 2000 ® Index pertaining to the 2022 Russell indexes reconstitution, effective June 27, 2022.

Sonoco expects operating results to be significantly better than previously projected due to sustained customer demand particularly in its Consumer Packaging and All Other segments, as well as continued strong performance in price recovery.

Canfor Southern Pine (Canfor) is investing $25 million to modernize its Hampton County facility in South Carolina, South Carolina Gov. Henry McMaster and the S.C. Department of Commerce announced.

Chilean pulp and wood panel manufacturer Arauco has signed an agreement to invest around $3 billion to build a new pulp mill in Brazil, it said in a statement.

Progroup is building a new corrugated sheetfeeder plant in south-west Germany, between the Palatinate villages of Petersberg and Höheischweiler. The company is investing more than Euro 90 million in the new building and is thus continuing to pursue its growth strategy. Production is set to begin in the second half of 2023.

The investment in the new line amounts to over Euro 50 million and is part of the Beeskow 50+ project, which refers to both the investment and the site´s more than 50 years of existence.

Central National Gottesman Inc. (CNG) announced that its North American Distribution Division has acquired Lewis Paper International, Inc., a leading distributor of paper, packaging and wide-format products headquartered in Addison, Illinois.

In addition, this acquisition will expand MM's footprint into the US market with an important position in the East-Coast pharma hub.

The two companies have worked diligently to establish contract terms that recognize the value and strengths of their employees and customers, and the sale is targeted to close in early August.

UFP Industries announced that its affiliate, PalletOne, Inc., has acquired a 50 percent equity stake in Dempsey Wood Products, LLC. The purchase agreement includes options for PalletOne to purchase the remaining 50 percent of Dempsey after three years.

UPM has signed an agreement to sell 100% of the shares of its Austrian subsidiary UPM Kymmene-Austria GmbH to the HEINZEL GROUP, a leading pulp, packaging and paper producer and trader in Central and Eastern Europe.

Mill Rock Packaging Partners ("Mill Rock Packaging"), a specialty packaging platform that invests in growth-oriented companies with advanced service and product capabilities in the consumer packaging industry, announced that it has appointed Allen Ennis as Chief Executive Officer. Mill Rock Packaging is a portfolio company of New York-based Mill Rock Capital, a growth and operations-oriented private investment firm.

Empire Recycled Fiber (ERF) says it has made the decision to relocate its recycled containerboard mill project from Fairless Hills, Pennsylvania to the Dayton, Ohio regional market.

Kruger Products officially inaugurated its Sherbrooke Tissue Plant, which was commissioned in 2021, and also broke ground at its expansion project where another tissue plant will be built on a site adjacent to the Sherbrooke Plant by 2024.

Upon close, the new company name will be Mativ, Inc. ("Mativ") and its shares will begin trading on the NYSE under the ticker symbol "MATV." The "SWM" and "NP" ticker symbols will be deactivated.

The future of driverless trucks is imminent

Attorneys general representing 14 states have sent a letter to the U.S. Environmental Protection Agency that criticizes its proposed plan to regulate downwind emissions, arguing it will be a "death knell for certain industries" unable to adjust to the new guidelines.

Atlantic Packaging is the first packaging company to join the more than 270 member companies whose collective annual membership dues are dispersed to grassroots environmental organizations that contribute to the long-term health of outdoor recreation and help ensure access for future generations.

Canfor Pulp Products Inc. and Canfor Corporation jointly announce the release of the 2021 Sustainability Report which includes additional performance targets for Climate Change, Water Management, Waste Management, and Air Quality.

Georgia-Pacific's consistent collaboration with the Environmental Protection Agency has led to two facilities becoming the first Energy Star certified mills of their type in the United States, and seven others achieving industry-leading energy reductions.

Greif now counts 55 facilities achieving diversion of at least 99 percent of waste to landfills.

Huhtamaki has welcomed the conclusions of a new report, which reviews 26 scientific studies comparing the environmental impact of single-use packaging vs. reusable tableware used in takeaway settings.

International Paper released its 2021 Sustainability Report, highlighting the company's goals and progress toward its Vision 2030 goals of healthy and abundant forests, sustainable operations, renewable solutions and thriving people and communities.

Pactiv Evergreen announced the launch of its new "Zero Waste Implementation Guide" at the Green Sports Alliance Summit in Minneapolis. The Guide is a resource to help foodservice establishments improve their waste diversion rates. Recreation venues, stadiums, arenas, colleges and university foodservice programs, in particular, will benefit from this valuable resource.

Suzano, the world's largest hardwood pulp producer, held its second annual ESG Call centered around its ambition to be a 'regenerative company for a regenerative society'. The ESG Call spotlighted measurable progress and ambitions across three core areas of action: climate change, biodiversity and social development.

An ammonia leak from a tank at McKinley Paper mill was isolated in a containment area and did not drain into water or the environment, said Capt. Kelly Ziegler of the Port Angeles Fire Department.

No injuries were reported and the fire was contained to the site of origin.

There has been a fatal incident at the Kemi bioproduct mill site of Metsä Fibre. The accident took place at the installation site of the recovery boiler in the forenoon, the 25th of June, 2022.

The Zachary Police Department was called to a fire at the Georgia-Pacific Corporation around 3 a.m. on Tuesday, June 28.

The cause of a fire Tuesday afternoon, June 21, at the Newport Containerboard Mill in Vermillion County is under investigation. That facility is operated by International Paper.

The fire had no known causalities but did send a firefighter to the hospital.

Over 30 firefighters from several localities put out a fire at the WestRock paper mill early Tuesday morning.

A smoky fire broke out at the paper mill in Madawaska causing workers to evacuate Friday evening, June 24.

Mercer International Inc. is deeply saddened to announce that an employee has passed away at its Rosenthal mill in Germany on June 25, 2022. Mercer and local authorities conducted an investigation and so far determined that the tragic loss was not work related.