Archives

The PM40 closed Friday, 16 September 2022, at 4838.

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 WestRock and PotlatchDeltic.

The PM40 closed 16 September 2022 up 4.2% from the 17 September 2021 level.

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 150 papermaking innovators and legends have been enshrined. This month, we profile the late Margaret E. Knight.

International technology group Andritz has acquired J. Parpala Oy, a major player in the maintenance and repair of environmental equipment for industrial production and power generation plants in Finland. The company was founded in 2011 and operates sites in Kokkola and Kaskinen.

Imerys has entered into exclusive negotiations with Syntagma Capital for the potential sale of most of its assets producing kaolin, ground calcium carbonate ("GCC"), precipitated calcium carbonate ("PCC") and talc, which primarily serve the paper markets for an enterprise value of €390 million including an earn out depending on the future performance of the business.

Kemira is implementing a 4% energy surcharge for all Pulp and Paper process and functional chemistries across North America for all non-contract customers, effective October 1, 2022. The surcharge announced in April for inorganic coagulants sold through Kemira's Industry & Water segment remains in effect.

Kemira will increase prices for all product lines in both of its segments in EMEA region effective immediately.

The world's first autonomously operated logyard cranes have been successfully lifted up at Metsä Fibre's bioproduct mill in Kemi, Finland.

Turkish cardboard manufacturer KMK Paper selected Toscotec for the complete rebuild of PM1 at its Kahramanmaraş paper mill in Turkey. Scheduled for the 1Q 2023, the project will increase the machine's production capacity and significantly improve paper quality. PM1 produces packaging paper grades, including fluting, testliner, kraft paper, and gypsum board.

DrekiTek Software Solutions Ltd. is a new software development company, located in the Comox Valley on Vancouver Island, British Columbia, Canada.

Sami Riekkola has been appointed Business Line President, Pulp and Energy, at Valmet as of October 1, 2022. Sami Riekkola currently holds the position of Business Line President, Automation Systems, at Valmet. In his new position, he will continue as a member of Valmet's Executive Team reporting to President and CEO Pasi Laine.

Valmet will supply pulp technology equipment for a new pulp stream of unbleached kraft pulp to Zellstoff Pöls AG, Austria. The company is a part of the Heinzel group. The delivery is planned for June 2023. The value of the order will not be disclosed.

WestRock Company announced an expansion of its CanCollar® family of multipack solutions with the introduction of CanCollar® X, a fiber-based solution for sustainable large format canned beverage packaging enabling as much as fifty percent material reduction compared to fully-enclosed traditional packaging.

Huhtamaki is committed to ensuring that its innovation for sustainable packaging solutions has a net positive impact by achieving carbon neutral production and designing all its products to be recyclable, compostable or reusable by 2030.

Neenah introduces their Environment Mailer, a premium unboxing experience for non-fragile soft goods and garments. Sustainable yet durable, this product is designed differently than traditional mailers, touting a proprietary protective coating for high-performance puncture and water resistance.

UPM Specialty Papers presents the latest innovative additions to its extensive selection of sustainable and recyclable packaging papers. UPM Confidio™ and UPM Confidio™ Pro combine moisture-, and grease resistance with excellent heat sealing properties. This makes the materials stand out in the market and offers a concrete competitive edge.

Hygiene and health company Essity is being affected by additional cost increases. Prices for electricity and gas have risen sharply in Europe since July 2022. Costs for the company's raw materials have also risen significantly in the third quarter. Essity is therefore announcing new comprehensive price increases for all product categories and markets.

The Offer will expire at 11:59 p.m., New York City time, on October 7, 2022 unless extended.

Ahlstrom-Munksjö, Metsä Fibre and 3M, with the help of Earthworm Foundation, continue their close collaboration in responsible wood sourcing.

Huhtamaki and Stora Enso have joined forces to launch a new paper cup recycling initiative, The Cup Collective.

Sonoco ThermoSafe, a unit of Sonoco one of the largest global providers of temperature assurance packaging, and American Airlines Cargo, a trusted airline partner in transporting high-value, time and temperature sensitive shipments, are pleased to announce a global partnership lease agreement for the new Pegasus ULD® passive temperature-controlled bulk shipping container.

UPM Timber and Lassila & Tikanoja have established a new recycling concept, in which used plastic wrapping is picked up from the customers and recycled into new wrappings. The customers also receive a compensation for the recycling collaboration.

About 80 fire survivors received initial financial assistance Tuesday during the first day of Roseburg Forest Products' $50 million Community Relief Fund being distributed to residents of Weed, Lake Shastina and nearby communities directly affected by the Mill Fire.

The paper and packaging products manufacturer said it will fully resolve the matter and pay about $260 million in federal income taxes under the agreement, which came on Sept. 2, according to a regulatory filing. International Paper said interest will also be charged upon closing of the audit as a result.

More than 100 people are suing the Roseburg Forest Products Co. in Oregon for losses caused by the Mill Fire in Siskiyou County.

Nippon Paper Crecia has filed a lawsuit against Daio Paper for an alleged infringement of its patents for toilet paper with rolls three times as long as conventional products.

Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart McWhorter and Georgia-Pacific officials announced the company will invest at least $425 million to construct a state-of-the-art Dixie® manufacturing facility in Jackson.

"We're honored to have Governor John Bel Edwards here with us today," said Anthony Pratt, Executive Chairman of Pratt Industries. "His economic leadership of Louisiana is characteristic of the reason that Pratt Industries has invested $250 million in the great state of Louisiana."

Mondi, a global leader in packaging and paper, is investing around €5 million in a new research and development (R&D) facility at Mondi Steinfeld, in Germany. This investment will support customers by helping them to develop solutions that achieve their sustainability goals.

Resolute Forest Products Inc. breaks ground on construction of new planer mill adjacent to Senneterre sawmill in Quebec, Canada. The planer, expected to be functional by the end of this year, will optimize fiber supply, enhance overall efficiency of the sawmill and reduce production costs for Abitibi regional operations.

Sappi Europe will be making a significant long-term investment to further strengthen its label paper business. As of the end of 2023, production capacities for label papers will be extended at the Gratkorn mill in Austria. The double-digit million-euro investment in technological innovations, such as a new embossing calendar, will enable the modern paper mill to produce high quality wet-strength wet-glue label paper.

CatchMark Timber Trust, Inc. announced that, at the special meeting of stockholders (the "Special Meeting") held this month, its stockholders approved the merger of CatchMark with and into a wholly owned subsidiary of PotlatchDeltic Corporation, pursuant to the terms of the Agreement and Plan of Merger, dated as of May 29, 2022.

Huhtamaki has sold its operations in Russia to Espetina Ltd. Espetina is a holding company owned by Alexander Govor and Iury Kushnerov. The transaction includes four manufacturing units in Russia, employing 724 people. The Siberian businessman Alexander Govor recently bought the McDonald's former restaurants in Russia.

The combination brings together two high quality timberland REITs resulting in PotlatchDeltic owning nearly 2.2 million acres of diversified timberlands, including 626,000 acres in Idaho and over 1.5 million acres in strengthening markets in the U.S. South

Action Wood Solutions, established to purchase the business assets of Action Wood Technologies, Inc. in Michigan, has entered into an asset purchase agreement with the owners of Action Wood Technologies, Inc. The closing of this transaction will be dependent on the Committee on Foreign Investment in the United States (CFIUS) accepting the transaction.

Corrugated Case Holdings Limited has an operating subsidiary, The Corrugated Case Company Limited, which has a factory in central England (Chesterfield) where it conducts manufacturing and sales of high-value-added corrugated boxes.

Sonoco, a diversified global packaging leader, announced the appointment of Shawn Munday as the Vice President of Global Mergers and Acquisitions, reporting to Chief Financial Officer, Rob Dillard. Shawn will lead business development strategies, mergers and acquisitions (M&A), divestitures, and other strategic investment partnerships and activities on behalf of the Company.

Stora Enso Oyj said it has acquired Dutch corrugated packaging producer De Jong Packaging Group in a deal worth around 1.02 billion euros ($1.02 billion).

Stora Enso said it would sell its Maxau paper production site in Germany to Schwarz Group, the owner of discount supermarket chains Lidl GB and Kaufland.

Sylvamo, the world's paper company, is announcing it agreed to acquire Stora Enso's uncoated freesheet paper mill in Nymolla, Sweden, for 150 million euros (approximately $150 million) expected to be funded in cash, subject to customary purchase price adjustments. The agreement includes the mill, the strong brands it produces and the people who make it happen.

UPM Raflatac has completed the acquisition of AMC AG (Advanced Methods of Coating). The acquisition announced in May 2022 was closed on 15 September 2022 after regulatory clearances.

Western Forest Products Inc. announced its wholly owned subsidiary, WFP Engineered Products LLC, has completed the acquisition of certain assets of Calvert Company, Inc. located in Washington State.

Metsä Board starts pre-engineering for a new folding boxboard mill in Kaskinen, Finland. Metsä Board announced in May 2022 that it explores possibilities to increase folding boxboard capacity in Finland or Sweden in order to support its customers' growth and to strengthen its service capability.

To strengthen its competitiveness and increase efficiency, Essity is announcing the following changes to its organizational structure and Executive Management Team, valid as of December 31, 2022.

Mativ Holdings, Inc., a global leader in specialty materials, today announced the planned relocation of its corporate headquarters to a new location in Alpharetta, Georgia. Mativ is a ~$3 billion manufacturer of critical components and engineered solutions, the result of the successfully completed merger between Neenah, Inc. and Schweitzer-Mauduit International, Inc.. The move will enable the company to further enhance its employee experience, innovation and customer support.

Primary woody biomass is an essential renewable energy source for meeting the ambition sought by the EU Parliament to increase renewable energy to 45 percent by 2030, and for achieving the EU's goal of carbon neutrality by 2050.

The 2022 Issue with Tissue report and sustainability scorecard (grading at-home toilet paper brands from "A" to "F") released today by NRDC (Natural Resources Defense Council), reveals that more companies are bringing sustainable tissue options to the market than ever before, offering consumers alternatives to products sourced from the climate-critical Canadian boreal forest.

Don Lewis, President Professional Hygiene and member of Essity's Executive Management Team has decided to leave Essity.

DS Smith, a sustainable packaging leader, announced that it has named Keith Tornes as managing director, paper, forestry and recycling for North America.

DS Smith Plc announces that Adrian Marsh has informed the Company of his intention to retire from the Board and from his role as Group Finance Director once a successor is in place.

One year after the start of activities for the first paper machine (PM) of the Puma II Project - the biggest investment in Klabin's history, which includes the construction of two paper machines with integrated pulp production -, the MP27 surpassed the mark of 330 thousand tons of Eukaliner® and Eukaliner White® produced and sold to the domestic and foreign markets, reinforcing the Company's vocation for the development of sustainable and innovative solutions in paper and paper packaging in Brazil.

Kimberly-Clark Corporation announced the appointment of Tamera Fenske to the role of Chief Supply Chain Officer, effective September 19, 2022.

LP Building Solutions (LP), a leading manufacturer of high-performance building products, today announced that Jeff Yelle has been promoted to Vice President, Chief Information Officer and Jeff Sweet has been elevated to the role of Vice President, Engineering.

The Stevens Point Fire Department assisted with the clean-up after an incident Wednesday morning, Sept. 7, at Pixelle Specialty Solutions.

Paper Excellence says it's temporarily laying off around 95 employees at its Crofton pulp and paper mill starting Saturday to coincide with scheduled annual maintenance.

UFP Industries announced the appointment of Allen Peters to executive vice president of innovation, effective January 1, 2023. Allen's new duties will include leading UFP's Innovation Accelerator and Innov8 Fund teams. He will also use his unique experience as president of UFP Retail Solutions to drive the ambitious new products and technology push necessary for rapid iterative changes through the organization.

Weyerhaeuser Company announced that as of this morning a work stoppage involving members of the International Association of Machinists and Aerospace Workers union is impacting its operations in Oregon and Washington. Weyerhaeuser has approximately 1,200 employees who are members of IAM, including employees in the company's Wood Products and Timberlands organizations.