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The PM40 closed Friday, 15 March 2024, at 5517.

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 March 2024 up 15.3% from the 17 March 2023 level.

In this issue of Disconnected Comparisons, we evaluate International Paper and Boise Cascade.

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 Eduard Küsters, who was inducted into the Hall of Fame in 1996.

We like people and work hard!

A.Celli Paper will supply the film size press and suction press rolls for Sichuan Fengsheng Paper Technology's new paper machine No 1 located in Leshan City, Sichuan province, China.

ANDRITZ supplied energy-efficient and environmentally leading technology for UPM's largest investment to date.

Swedish forest industry group Södra has entrusted international technology group Andritz with the upgrade of three electrostatic precipitators (ESPs) for the recovery boiler at the Mörrum pulp mill.

The International Organization for Standardization (ISO) is the world's largest developer and publisher of international standards.

WEG, internationally recognized for its expertise in electrical solutions and industrial automation, is supplying Klabin, Brazil's largest producer and exporter of sustainable paper and packaging solutions, with intelligent WEGscan sensors, and asset management software WEG Motion Fleet Management (MFM).

Holmen AB has called an option signed in a previous agreement with RemaSawco AB. The option applies to the board handling system RS-ProSort for the green sorting at the company's sawmill Braviken outside Norrköping.

Pallmann Maschinenfabrik, located in Zweibrücken, Germany, took over the business operations of the Slovakian company Febs SK s.r.o. in Mytne Ludany.

The project includes modifications to the machine for the new steam system and it is planned for start-up in the Q3 2024.

The delivery is scheduled to take place in October 2024.

A multi-million-dollar grant including funds and in-kind products will expand the reach of Baby2Baby's Program with The Department of Health & Human Services.

DynamicsPrint, the Microsoft preferred ERP solution for medium- and large printing and packaging corporations, is proud to announce a collaboration with Multi-Color Corporation (MCC), the world's premier provider of labelling.

Essity has, for the fifth consecutive year, been recognized for its leadership in sustainability by the global non-profit environmental organization CDP. The award addresses how Essity successfully has worked with its suppliers to fight climate change.

Annual recognition highlights organizations that have demonstrated a commitment to business integrity through robust ethics, compliance, and governance programs.

Kimberly-Clark has been recognized for six consecutive years and nine times overall and is one of only 3 honorees in the Consumer Products industry. In 2024, 136 honorees were recognized spanning 20 countries and 44 industries.

The award recognizes Georgia-Pacific's contributions to the revitalization and growth of downtown Atlanta, as well as its commitment to supporting education, entrepreneurship, community enrichment and sustainability initiatives throughout the city and the country.

Three distinguished industry authorities--BUILD Magazine, PRODUCTS Magazine, and Green Builder Media--recognized the LP® Structural Solutions portfolio for its exceptional product quality and sustainable attributes.

High-opacity and heavyweight ballot stocks provide durable option for voting system and mail-in ballots.

Pregis®, a global leader in high-performance flexible packaging and protective packaging solutions, unveils the Pregis EverTec™ Automated Mailer, designed to seamlessly integrate with the Pregis Sharp™ MaxPro series of automated bagging machines, already known for increasing productivity, throughput, and efficiency while reducing freight costs.

Treekind® is one of the only 100% biobased leather alternatives with an authentic look and feel.

SEE has developed a new paper-based bottom web to support food processors and retailers reduce plastic usage and meet consumer demand for paper packaging.

Sun Chemical has launched Xennia Jade, a pigment ink that meets the escalating demands of the direct-to-film (DTF) market. The solution has been specifically designed to address key challenges faced by DTF users within this market, providing a high-quality, stable, and reliable ink set for seamless daily, weekly, and monthly production.

Soilfood, a Finnish circular economy company, is processing the fibre-based side streams generated in the production of paperboard from manufacturer Metsä Board, into various soil improvement fibres for local farms. Soilfood has previously used these side streams from Metsä Board's board mills at Kemi and Äänekoski. Now the cooperation has been extended to the Tako mill, located in the centre of Tampere.

"We are excited to be partnering with Verso Energy on this endeavor"

Spinnova Plc and Suzano S.A. have signed a Letter of Intent (LOI) regarding a potential new production facility for wood-based SPINNOVA® fibre.

UPM Biochemicals announced another important milestone in the development of the world's first biorefinery in Leuna, Germany. In partnership with DB Cargo, the first deliveries of wood have now been made to Leuna by rail, establishing and testing the direct rail link to the Leuna operations' wood yard.

William Thompson was booked into the Cass County Jail after the Texas Department of Public Safety (DPS) executed a search warrant at his home on Monday, where alleged stolen items from Graphic Packaging were found by law enforcement.

Godfrey Forest Products, a developer of engineered wood products like oriented strand board, plan to open a new mill on the land, creating 125 new jobs.

The woodyard at Irving Pulp & Paper in west Saint John, New Brunswick, Canada, is reaching new heights in technological advancement with a C$110-million (approx. $81 million) project to update how the site receives and stores woodchips.

Metsä announced it had chosen Goole as the site for this landmark investment in September 2023. The planned investment would be worth hundreds of millions of pounds.

Mondi recently puts a new slitting and rewinding unit into operation at its Slovak paper mill in Ružomberok. The equipment allows for an extended capacity in narrow reels thus complementing Mondi's portfolio offering.

UFP Industries' UFPI affiliate, UFP Packaging, inaugurated a new production facility and breakroom in Warrens, WI. The 11,840 sq.-ft. production facility and 2,400 sq.-ft. breakroom mark a significant expansion, allowing UFP Packaging to enhance its wood packaging offerings and accommodate up to 12 additional staff members.

Deal represents a 33% premium to DS Smith's closing share price on Feb 7.

Irving Forest Products, which operates sawmills in Ashland and Dixfield, Maine, announces the acquisition of Mill Services, Inc's value-added operation in Cobleskill, New York.

On December 15, 2023, Essity announced that Isola Castle Ltd, a company indirectly wholly owned by Asia Pacific Resources International Limited (APRIL), has announced that it will make a pre-conditional public offer to the shareholders of Vinda International Holdings Limited (Vinda) to acquire the shares in Vinda for a price per share of HKD 23.50.

Nordic Paper Holding AB (the "Company") has noted that Shanying International Holding Co., Ltd has announced that Shanying intends to sell all or part of its stake in Nordic Paper. It is further noted by the Company that the intentions are at an early stage and that there can be no guarantee that a sale will be achieved or at what terms, including price.

Antti Jääskeläinen, Executive Vice President, UPM Raflatac, will be leaving UPM to assume the role of President and CEO in the Finnish logistics and distribution company Posti Group Oyj. He will continue with his duties in UPM until the end of July 2024.

Her appointment increases the percentage of women directors on Interfor's Board, to 30%.

Mercer International Inc. announced that Jimmy Lee is stepping down as Executive Chairman and director of the Company for personal health reasons.

Through this expansion project, which received investments totaling $14.5 million and created 16 jobs, Kruger Products commissioned a new facial tissue converting line at its Richelieu Plant in November 2023. The additional equipment will increase the production of facial tissue by 25%.

Mercer Mass Timber, a subsidiary of Mercer International Inc., announced the launch of its mass timber erection division: Mercer Mass Timber Construction Services.

The new Mumbai terminal, operational since February, will soon see the addition of another slitting machine. Its strategic central location extends UPM Raflatac's reach across the country.

Enviva Inc., a producer of wood-based biomass, disclosed the execution of two Restructuring Support Agreements (RSAs) with its creditors, aiming to reduce its debt by approximately $1 billion.

Huhtamaki is planning to consolidate the production footprint in China in the Fiber Foodservice Europe-Asia-Oceania segment and will close its production sites in Tianjin and Shanghai by the end of Q2 2024.

Rengo Co., Ltd. announces that its consolidated subsidiary Taiko Paper Mfg., Ltd. (TPM) has partnered with Biomaterial in Tokyo Co., Ltd. to commence a demonstration project to produce second-generation bioethanol, which is the raw material for sustainable aviation fuel (SAF).

Södra has decided to invest in a new condensing turbine in the pulp mill at Mörrum, which will increase the county of Blekinge's electricity generation by 20%.

UPM donates EUR 400 000 to the University of Helsinki to study the overall climate impact of commercial forests. The research, called Carbon Sinks+, aims to understand how commercial forests affect to climate change in ways other than as carbon sinks and stores.

The agreement covers 187,500 acres of subsurface rights owned by Weyerhaeuser and spans five potential sequestration sites, including two locations that were previously identified by Weyerhaeuser as prospective opportunities for carbon capture and sequestration (CCS) development.

The Paper Workers' Union has terminated its collective agreements with UPM Pulp, UPM Communication Papers, UPM Specialty Papers, UPM Raflatac and UPM Biofuels businesses to expire mid-term on 21 or 22 April 2024, depending on the agreement.

Dakota Austin Cline died from blunt trauma to his head, neck and torso.

Finnish paperboard producer Metsa Board said it expects to temporarily shut down one of its mills later this week due to a two-week political strike affecting Finland's harbours and railroad system.

Janne Rantanen has been appointed VP, Mill Manager of the Äänekoski bioproduct mill as of 1 April 2024. Rantanen is currently VP, Mill Manager of the Rauma pulp mill.

The company says the cessation of white paper production in in the Latrobe Valley contributed to the decision.

The change negotiations cover approximately 820 persons in UPM Pulp Finland's operations, approximately 340 persons in UPM Timber sawmills and approximately 1,100 persons in UPM Communication Papers Finnish mills.

Veritiv Corporation announced that Stuart Crockford has joined the company as Senior Vice President - Business Development to lead Veritiv's mergers and acquisitions (M&A) strategy. In this newly created role, Mr. Crockford will be responsible for leading all aspects of the company's business development and M&A strategy.